IT service provider Centric has acquired a majority stake in Dutch FinTech company Twelve, a market leader in point-of-sale (PoS) and order management in the food service and hospitality sector. The acquisition marks an important step for both companies and is intended to boost Twelve’s European growth.
Twelve started fifteen years ago with a user-friendly payment system for amateur sports clubs. Thanks to its simplicity, speed, and reliability, the company has grown into a prominent player in large stadiums such as Ajax Amsterdam’s Johan Cruijff ArenA, events such as SAIL Amsterdam, and well-known caterers such as Sodexo. Twelve now processes more than 700 million transactions annually at a wide range of locations, including smaller hospitality businesses and quick service restaurants.
European expansion
Centric is collaborating with investment company Spacetime in this strategic move. Founder Willem van Kralingen has been appointed CEO of Twelve and will remain closely involved in the further development of the company. “We are proud to be the market leader in the Netherlands,” says Van Kralingen. “With the expertise of Centric and Spacetime, we can now make the move to Europe. We are already active in venues such as the Stade de France and San Siro, and want to expand to Germany, France, Italy, and the United Kingdom.”
Expansion of own software portfolio
For Centric, the investment means an expansion of its own software portfolio. While the company is already strong in IT solutions for retail, logistics, and non-food, Twelve brings valuable expertise in food service and hospitality. “This partnership fits perfectly with our strategy,” says Centric CEO Hans van Waaijenburg. “We invest specifically in companies that strengthen our market position and accelerate innovation.”
Twelve will continue to operate under its own brand and retain its independent organizational structure. The collaboration with Centric will be at arm’s length, with the aim of leveraging synergies without compromising agility and entrepreneurship. This step will strengthen the position of both companies in the European retail technology market.
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