EQT has agreed to acquire a 37.6% stake in South Korean enterprise software company Douzone Bizon for approximately $930m, marking one of the private equity firm’s largest Asian investments this year.

The Swedish investor will purchase a 23.2% stake from Douzone’s chairman, Young-woo Kim, and a further 14.4% from affiliates of Shinhan Financial Group. The deal, executed through EQT’s BPEA Private Equity Fund IX, will make the fund between 5% and 10% invested upon completion.

Founded in 1991, Douzone Bizon provides enterprise resource planning and business management software for small and mid-sized companies, with a growing suite of cloud-based accounting, tax, and compliance tools.

EQT said it intends to take a long-term partnership approach, focusing on enhancing operations and supporting the company’s continued digital transformation.

The acquisition reinforces EQT’s commitment to South Korea’s technology and software markets, following its broader strategy to expand its presence across Asia.

The transaction is subject to customary approvals, including clearance from the Korea Fair Trade Commission and the Ministry of Trade, Industry, and Resources.

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