Silver Lake-backed French software company Cegid and Spanish technology firm Grupo Primavera are to merge, giving rise to a giant valued at approximately €6.8m.
With the incorporation of Grupo Primavera Cegid creates a strong business management software provider in Iberia and accelerates its international expansion.
After the closing of the merger Silver Lake will continue to be the majority shareholder of the combined group with Oakley Capital joining KKR and AltaOne as minority shareholders in Cegid.
Cegid CEO Pascal Houillon and Grupo Primavera CEO Santiago Solanas and his entire management team will join Cegid.
Houillon said: “Joining forces with Grupo Primavera is an immense opportunity for both companies and our respective clients. We share a vision for the future driven by continuous product and technology innovation and Cegid is committed to investing in the combined company’s continued growth.”
Solanas added: “Both Cegid and Grupo Primavera share a mission to grow our ecosystem and to offer our combined customers, channel partners, colleagues and communities renewed value.”