General Atlantic and Oakley Capital are in exclusive talks to acquire Brevo, a Paris-based CRM and marketing automation platform, in a transaction that would value the business at approximately €1bn ($1.1bn), according to sources cited by Bloomberg.

The deal would mark one of the largest private equity software transactions in France this year and highlights continued investor appetite for recurring-revenue SaaS businesses in the CRM space.

Under the proposed terms, existing investors Bridgepoint and Bpifrance are expected to retain minority positions, while Partech Partners will fully exit its stake. A final agreement could be announced in the coming days, pending final due diligence and regulatory clearances.

Brevo, formerly known as Sendinblue, offers an integrated platform for customer engagement, combining email, SMS, chat, and CRM capabilities. Its platform supports marketing and sales functions for a diverse client base, which includes global names such as Montblanc, eBay, L’Occitane, and LVMH.

The company reported €179m in annual recurring revenue (ARR) in 2024, with the deal expected to be financed via a private credit structure based on ARR metrics. Earlier this year, lenders were reportedly approached to underwrite the facility, highlighting strong demand for credit-backed software deals.

If completed, the acquisition would underscore the broader trend of private equity backing high-growth European SaaS providers, particularly those with strong enterprise penetration and scalable, subscription-based models.

General Atlantic, Oakley Capital, Bridgepoint, and Bpifrance declined to comment on the matter. Partech did not respond to requests for comment.

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