Entrepreneurship is gaining ground in Belgium. Every month, dozens of startups are born and grow. Among them are some remarkable success stories. From startups acquired for exorbitant sums to venture onto the stock markets, here’s a look at 10 Belgian success stories from the last five years.

Omega Pharma : Acquisition

This is undoubtedly the biggest Belgian financial success of recent years. In November 2014, Marc Coucke decided to sell his prized possession, Omega Pharma, to the American-Israeli company Perrigo. 

• Area of ​​expertise: Pharmaceutical product production
• Acquisition cost: €3.6 billion (1/4 in Perrigo shares and 3/4 in cash). For Marc Coucke, Omega’s CEO, co-founder and principal shareholder, the capital gain amounts to €1.45 billion. 
• Main shareholders before the takeover: Marc Coucke (50%), the private equity fund Waterland (48%) as well as some minority investors.
• Situation before the acquisition: Turnover exceeding one billion euros, net profit of 70 million, and 2000 employees in 35 countries.
• Reason for success: Confinement to the OTC drug market (products sold without a medical prescription) and reinvestment of profits in the company.

Ogone : Acquisition

A true Belgian gem, the company Ogone, was acquired in 2013 by Ingenico, a leading French manufacturer in the installation and management of payment terminals. 

• Area of ​​expertise: Online payment services
• Acquisition cost: 360 million euros. 
• Main shareholders before the takeover (2013): The American fund Summit Partners (60%) as well as Thierry Pierson and Harold Mechelynck, the founders of the group, (initially each holding 20% ​​of the capital). 
• Situation before the acquisition: A turnover of 42 million euros, 350 people employed and a leading European position in online payment.
• Reason for success: Perfect timing, in the midst of the online shopping boom and a relative lack of competition. 

Clear2pay : Acquisition

In 2014, FIS (USA), one of the world’s largest providers of banking solutions and payment products, acquired the Belgian company Clear2pay.  

• Area of ​​expertise: E-finance and the provision of payment solutions for financial institutions.
• Acquisition cost: 375 million euros
• Main investors before the acquisition (2014): $120 million was raised through Hummingbird Ventures, Quest for Growth, Idinvest Partners, Iris Capital, PMV, the founders,… In 2009, Aquiline Capital Partners, an American private equity firm, became the main shareholder, putting €50 million on the table. 
• Situation before the acquisition: 1,200 employees spread across 15 countries.

Materialise : IPO

Operating in the engineering, development, and applications of 3D printing, the Belgian company Materialise is considered one of the world leaders in its sector. So much so that its CEO, Wilfried Vancraen, decided to take the company public.

• IPO: Listing on Nasdaq on June 27, 2014.
• Market capitalization: $296 million, with a share price of $6.
• Current situation of the group: Materialise employs nearly 2000 people in about fifteen countries, with a sector in full growth (20% per year).
• Main shareholders: The Belgian company Ailanthus (28%), but also Wilfried Vancrean (11%) and Sniper investments (2%).
• Reason for success: Creation of high-performance software and services for industrial production (in fields as varied as aeronautics, aerospace, construction) or the medical field. 

Cartagenia : Acquisition

In May 2015, the start-up Cartagenia was acquired by Agilent Technologies, an American group specializing in laboratory research. It is now a “business unit” of the American company. 

• Area of ​​expertise: provision of software and services for genomic (DNA) data analysis.
• Acquisition cost: 60 million euros 
• The main investors prior to the acquisition were PMV, Capricorn Venture Partners, Gemma Frisius Fonds, and Quest for Growth. They injected nearly €6.5 million in funding into the startup.
• Situation before the acquisition: 37 employees spread across the Boston and Leuven sites.
• Reason for success: Development of “Cartegenia Bench”, a tool capable of analyzing next-generation sequencing data, used in particular for oncology diagnostics and for hereditary diseases.

Immoweb : Acquisition

In 2012, Immoweb, the undisputed leader in real estate classifieds in Belgium, was acquired by Axel Springer Digital Classifieds, a joint venture between the German publishing giant Axel Springer and the American company General Atlantic. Axel Springer Digital Classifieds acquired 80% of the company. The Rousseaux family, founders of the platform, retained a 20% stake.

• Acquisition cost: 127.5 million euros. 
• Main shareholders before the takeover: Christian (founder), Christophe (manager) and Tanguy Rousseaux.
• Situation before the acquisition: Turnover of 19 million euros, profit of 11 million euros per year and 2.4 million unique visitors per month.
• Reason for success: The early digital launch (1996) of a real estate advertising platform. 

Sunrise : Acquisition

In February 2015, Microsoft officially announced its acquisition of Sunrise, a Franco-Belgian connected calendar available online on all types of platforms. The startup is now part of Outlook Mobile, the email service of the American giant.

• Acquisition cost: $100 million
• The main shareholders and investors before the acquisition were Jeremy le Van and Pierre Valade, co-founders of the startup. Also involved were the funds Resolute.vc, Next View Ventures, Balderton Capital, and business angels Dave Morin, Loic Le Meur, Hunter Walk, and others. They injected $8.2 million into the startup in two funding rounds.
• Situation before the acquisition: 100,000 daily users. 
• Reason for success: Compatibility with Microsoft and attractive design. 

LMS International : Acquisition

The Belgian company LMS International was acquired by Siemens in 2012. It is now integrated into the PLM (Product Lifecycle Management) business unit of the German group. 

• Area of ​​expertise: Creation of test and simulation software for the automotive and aeronautical industries.
  • Acquisition cost: 680 million euros. 
• The main shareholders before the acquisition were: Urbain Vandeurzen (CEO, Chairman, Founder: 60%), Jan Leuridan (18.5%), and NPM Capital (16%). Previously, KU Leuven and GIMV (Flemish Regional Investment Company) had invested in and believed in the project.
• Situation before the acquisition: 45 offices, 1,200 employees and a turnover of 161.5 million euros. 
• Reason for success: good acquisition policy with the purchase of the French company Imagine (2007) and the Walloon company Samtech (2011), complementary to LMS and promoting its growth.

ActoGeniX : Acquisition

Nine years after its creation as a spin-off of the Flemish Institute for Biotechnology (VIB) and Ghent University, the start-up ActoGeniX was acquired by the American company Intrexon. The amount? $60 million (half in shares, the other half in cash).

• Area of ​​expertise: Development and marketing of drugs for the treatment of serious diseases requiring intensive medical care. 
• Main shareholders before the acquisition (February 2015): ActoGeniX raised 46 million euros from various funds: Gimv (20%), Biotech Fund Flanders, Baekeland Fund, Biovest, Saffelberg Investments (Belgium), Life Sciences Partners, Aescap Venture (Netherlands) and Ventech (France).
• Situation before the acquisition: 22 employees and around twenty patents worldwide. 
• Reasons for success: Creation of ActoBiotics, a new class of orally administered biopharmaceutical products for the targeted treatment of serious diseases, for which many needs remain unmet. 

Massive Media (Twoo) : Acquisition

In December 2012, the French online dating giant Meetic announced its acquisition of the Belgian group Massive Media. This acquisition allowed it to take control of its rival Twoo.com, one of the most popular dating sites in Belgium.

• Area of ​​expertise: Dating site and social network (Twoo, Netlog and Stepout). 
• Acquisition cost: 18.9 million euros.
• Situation before the acquisition (December 2012): 9.6 million unique visitors per month. 
• Main shareholders before the takeover: The two founders, Lorenz Bogaert and Toon Coppens (65%); Index Ventures and Atomico Ventures funds (5 million euros invested between them in 2007). 
• Reason for success: While its competitors focused on the traditional dating market, Twoo was used very actively by people looking for new friends, a date, or just a little online socializing.