Private equity firm KKR has agreed to buy a minority stake in French software and computing services company Cegid in a deal that the companies said gives Cegid an enterprise value of $6.7bn.
Investment firm Silver Lake will remain Cegid’s majority shareholder.
Cegid, founded in 1983 and headquartered in Lyon, registered turnover of €498m in 2020.
“Today’s investment reflects our continued strategic focus on investing in leading European software businesses and on backing French tech champions in their growth journeys,” KKR executives Jean-Pierre Saad and Jerome Nomme said in a joint statement.
Source: Reuters
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