Danish private equity firm Axcel is exploring a potential sale of Emagine, its Copenhagen-based IT consultancy, in a deal that could value the business at about €700m ($826m), according to Bloomberg.

Axcel has reportedly invited investment banks to submit proposals, with a sale process possibly launching next year. Sources cautioned that deliberations remain ongoing and the firm may still choose to hold the asset.

Emagine provides business and technology services to financial sector clients, serving more than 600 companies across Europe, the Middle East, and Asia. The consultancy operates offices in France, Germany, Ireland, the Netherlands, the UK, the UAE, and India.

Axcel acquired Emagine in 2021 as part of its strategy to back growth-oriented companies in northern Europe. The private equity firm manages more than €4.3bn across eight funds, focusing on technology, business services, industrials, healthcare, and consumer sectors.

If completed, the deal would mark one of Axcel’s most significant exits in the technology services space and highlight sustained investor appetite for European IT and digital transformation businesses.

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