Cinven is considering the sale of Think-Cell, a German software developer known for its data-visualisation tools for Microsoft PowerPoint, in a deal that could value the company at up to €3bn ($3.5bn), according to sources familiar with the matter cited by Bloomberg.

The London-based private equity firm has hired Arma Partners to advise on strategic options, including a potential sale expected to launch in early 2026. Sources said Cinven may reinvest alongside a new buyer as part of the transaction.

Think-Cell’s founders, who retain a roughly 30% stake, are also evaluating their next steps.

Headquartered in Berlin, Think-Cell provides presentation and data-visualisation software used by more than 1.3 million professionals worldwide, including large German corporates and top business schools. The company currently generates about €200m in recurring annual revenue and €150m in EBITDA.

Cinven acquired its majority stake in Think-Cell in 2021 and has since supported the company’s international growth. A sale at the proposed valuation would represent one of Europe’s largest software transactions in recent years, underscoring continued investor appetite for high-margin, subscription-based technology assets.

Deliberations remain ongoing, and Cinven could still decide to hold onto the business. Cinven and Arma Partners declined to comment.

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