What Altamount does

Altamount Software GmbH is a Berlin-headquartered, privately held vertical market software platform established in June 2024 by publicly traded CHAPTERS Group AG together with CEO Andreas Philippi. It acquires, owns, and develops highly specialized software companies serving the European public sector and critical-infrastructure operators, with a stated investment mandate for profitable, growing targets generating at least 40% recurring revenue and a loyal customer base. The portfolio of six companies (GBS Europa, PSI Transcom, Verkehrsautomatisierung Berlin, Cybersense, Somentec Software, and icomedias) spans four verticals: Mobility (public-transport and e-mobility control software), Energy (billing and customer-management systems for municipal utilities), Public Safety (digital, mobile, offline-capable forms for police and emergency services via HybridForms), and Cyber Security/GRC (email and collaboration security, active threat detection, and incident response for critical infrastructure).

Underlying technology is domain-specific enterprise software rather than a unified platform: each portfolio company retains its own product, brand, and engineering stack. Notable technical components include PSI Transcom's market-leading public-transport control software (originating from 1980 heritage), VAB's transport-automation stack, Somentec's energy billing and customer-portal suite, icomedias' HybridForms offline-capable digital workflow engine, Cybersense's critical-infrastructure threat-detection and incident-response platform, and GBS Europa's "made in Germany" email and collaboration security suite. Cross-portfolio complementarity is most visible in cybersecurity, where GBS (email security) and Cybersense (intrusion detection) are positioned to address regulated critical-infrastructure customers jointly.

The business model is B2B enterprise software delivered through licensing, maintenance, support, and SaaS subscriptions, with quote-based annual contracts negotiated directly with public-sector buyers. Go-to-market is decentralized enterprise field sales executed by each portfolio company into government agencies, municipal utilities, public-transport operators, and critical-infrastructure organizations across 13 European countries. Altamount does not publicly disclose pricing, revenue, or ARR, and acquisition consideration amounts are not disclosed; the holding is financed through the permanent capital base of CHAPTERS Group AG, whose shareholders include Mitch Rales (Danaher co-founder), Daniel Ek (Spotify co-founder), MIT, Sator Grove, and Sun Mountain Partners. Altamount explicitly states it does not plan to sell acquired companies, framing the model as long-term permanent ownership rather than traditional private-equity buy-and-exit.

Name

Altamount

Legal name

Altamount Software GmbH

Website

https://altamount.de

Company type

Private

Founded year

2024

Operating status

Operating

Short description

Altamount Software GmbH is a Berlin-based, CHAPTERS Group-backed holding company that acquires and permanently owns specialized European public-sector software companies in Mobility, Energy, Public Safety, and Cyber Security/GRC, currently comprising six portfolio businesses serving 320+ employees, 13 countries, and 100M+ citizens.

Ownership category

akta.pro rank

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Software Licensing and SaaS Subscriptions: Altamount portfolio companies generate revenue through software licensing, maintenance, support, and SaaS subscriptions. The group requires acquired companies to have at least 40% recurring revenue from maintenance, support, or SaaS.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Altamount acquires and develops highly specialized software companies serving the European public sector and critical infrastructure customers. Its portfolio delivers mission-critical software across four verticals: Mobility (public transport and e-mobility software), Energy (billing and customer management for utilities), Public Safety (digital mobile forms and workflows for authorities), and Cyber Security / GRC (email security, threat detection, and compliance software for critical infrastructure operators).

Product overview

Altamount is a platform company that builds a leading ecosystem of highly specialised software companies serving the Public Sector, with deep expertise in Cyber Security and GRC (Governance, Risk, and Compliance). The company operates as part of CHAPTERS Group AG and serves as a long-term entrepreneurial home for management teams. The portfolio consists of six distinct acquired companies across three vertical focus areas: Mobility (PSI Transcom and Verkehrsautomatisierung Berlin for public transport software), Energy (Somentec for billing and customer management solutions), and Public Safety/Cyber Security (icomedias/HybridForms for digital forms, Cybersense for threat detection, and GBS Europa for email security). Each portfolio company operates independently while benefiting from shared resources and the long-term orientation of the platform.

Differentiator

Problem solved

Functional benefit

Products and services

• PSI Transcom Mission-critical software for public transport operators with a market-leading position in the e-mobility segment. The product serves public transport infrastructure customers across Europe and was founded in 1980.
• Verkehrsautomatisierung Berlin (VAB) Specialized software solutions for the control and automation of public transport systems, serving transportation operators and authorities.
• Somentec Software Billing software, customer management, and customer portal solutions for energy suppliers and municipal utilities, with over two decades of experience digitalising the German energy industry.
• icomedias HybridForms Digital, mobile form and workflow processes for public authorities, emergency services organisations, and companies operating in critical infrastructure, enabling paper-based processes to be mapped in a fully digital, mobile, and offline-capable manner.
• Cybersense Cyber security software solutions for organisations operating critical infrastructure, supporting active threat detection, security analysis, IT risk analysis, incident response, and regulatory compliance.
• GBS Europa Cyber security solutions for email and collaboration tools, providing email security for regulated industries and critical infrastructure, made in Germany.

Quantifiable outcome

• 98%+ customer retention rate across portfolio
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• GBS Europa GmbHcoreOthersPortfolio company providing cyber security solutions for email and collaboration tools. Located in Karlsruhe and Paderborn, Germany. First acquisition completed by Altamount in June 2024.
• PSI Transcom GmbHcoreOthersPortfolio company acquired in December 2024. Leading provider of software for critical infrastructure in public transport, with market-leading position in e-mobility segment. Founded in 1980, based in Berlin.
• Verkehrsautomatisierung Berlin GmbH (VAB)coreOthersPortfolio company acquired from Hanning & Kahl. Develops specialized software solutions for control and automation of public transport systems. Strengthens Altamount's mobility portfolio.
• Cybersense GmbHcoreOthersMajority stake acquired in April 2025. Cybersecurity software for critical infrastructure organizations. Specializes in active threat detection, security analysis, and compliance. Founders Sebastian Struwe and Ralf Sturhan remain invested.
• Somentec Software GmbHcoreOthersPortfolio company acquired from Stadtwerke Schwäbisch Hall in August 2025. Provides billing, customer management, and portal solutions for energy suppliers and municipal utilities. Headquartered in Langen with ~100 employees.
• icomedias GmbHcoreOthersPortfolio company acquired in December 2025. Leading provider of digital, mobile form and workflow processes (HybridForms) for public authorities, emergency services, and critical infrastructure. Headquartered in Graz, Austria.
• GBS Europa GmbH & Cybersense GmbHcoreTechnology or IntegrationGBS and Cybersense have complementary cybersecurity solutions. GBS specializes in email security while Cybersense focuses on attack and intrusion detection. The combination creates a more powerful portfolio for defending against cyber threats for clients in highly regulated industries and critical infrastructure.
• PSI Software SEminorOthersPrevious parent company of PSI Transcom GmbH. Sold 100% of shares to Altamount in December 2024 as part of PSI Reloaded transformation programme.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Constellation Software (Volaris / Jonas): Canadian-listed perpetual acquirer of vertical-market software businesses worldwide. Volaris and Jonas operate the same decentralized, hold-forever, small-acquisition playbook that Altamount explicitly emulates, and multiple Altamount team members came from Constellation.
• Visma: European vertical-software consolidator (PE-backed by Hg) acquiring small, profitable SaaS businesses across accounting, HR and public-sector-adjacent software. Directly comparable in model, though substantially larger and more Nordic-centric.
• Everfield: UK-based vertical-market software acquirer with growing DACH presence. Timm Overmans joined Altamount directly from Everfield, signaling near-identical thesis and operating mechanics for small European software tuck-ins.
• BID Equity: DACH-focused vertical-software investor led by former Exton/Swiftpage executives. Directly comparable in geography, ticket size, and target profile; also part of Overmans's background.
• Allgeier: German-listed IT and vertical-software group with a portfolio of public-sector and enterprise-software subsidiaries. Closest listed DACH analogue to Altamount's roll-up strategy.
• GUS Group: German software/ERP holding company focused on process-industry and public-adjacent verticals. Comparable in holding-structure mechanics and DACH vertical-software concentration.
• SHD: German software holding focused on retail and process-industry verticals. Similar decentralized, hold-forever model applied to small specialized German software businesses.

Broad incumbents

• Hg (Hg Capital): Large European software-focused PE firm (Visma, Iris, Sovos). Operates at much larger ticket sizes and broader geographic remit, but pursues the same vertical-software compounding strategy.
• Thoma Bravo: U.S.-headquartered software-focused mega-PE. Same vertical-software thesis at far larger scale; relevant comparable for the ultimate destination of a permanent-capital platform.

Regional players

• Datagroup: German-listed managed-IT-services and software provider serving municipalities and mid-market enterprises. Adjacent rather than direct — more services-heavy — but overlaps on public-sector customer base.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/altamount

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altamount