Tag Archives: Information technology

Wireless Logic continues global expansion with acquisition of Blue Wireless

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Wireless Logic strengthens geographical reach across Asia Pacific and the United States, and bolsters global service offering through a managed service provider for wireless network solutions.

Wireless Logic, the leading global IoT connectivity platform provider has acquired Singapore-headquartered Blue Wireless, a global service provider for managed wireless solutions. This agreement follows the company’s 2022 acquisitions of IoThink Solutions, Mobius Networks and Jola, continuing Wireless Logic’s strategy of strengthening its global footprint, service offering and routes to market.

Blue Wireless was founded in late 2015 in Singapore with the single focus of delivering Wireless WAN Solutions to the enterprise. Since then, it has rapidly expanded in coverage and capabilities, becoming the first provider of Fixed Wireless Access services on a global scale. Its team of 70 professionals operates across six offices in Asia Pacific, Europe and the United States, offering 24/7 managed network connectivity for businesses across all industries – including energy, retail, logistics and the maritime sector.

With the acquisition, Wireless Logic not only strengthens its presence in Asia Pacific and the United States, but also enhances its product and service offering around fixed wireless access. Blue Wireless offers fixed-price LTE/5G connectivity in over 80 countries, underpinned by speed guarantees and service SLAs, making it an ideal underlay alternative for global SD-WAN deployments.

Ivan Landen, CEO of Blue Wireless, said: “This is a major milestone, and we are truly excited for the journey ahead. With the support of Wireless Logic, we will be able to accelerate our innovation and connectivity roadmap to benefit our customers and teams around the world, supporting new use cases while maintaining our hands-on service culture.”

With the support of Wireless Logic, we will be able to accelerate our innovation and connectivity roadmap to benefit our customers and teams around the world, supporting new use cases while maintaining our hands-on service culture.

Ivan Landen, CEO, Blue Wireless

Joop Gerlach, COO of Blue Wireless, said: “We will continue to deliver wireless network solutions to our global enterprise customers, only now it will be backed by Wireless Logic’s strong position in core Mobile IoT networking.”

We will continue to deliver wireless network solutions to our global enterprise customers, only now it will be backed by Wireless Logic’s strong position in core Mobile IoT networking.

Joop Gerlach, COO, Blue Wireless

Oliver Tucker, CEO of Wireless Logic commented: “We are hugely excited to announce our ninth acquisition in two years, as we continue to strengthen our global footprint and routes to market through the global service provider channel. We welcome the talented Blue Wireless team and look forward to setting new standards in the connectivity marketplace.”

We welcome the talented Blue Wireless team and look forward to setting new standards in the connectivity marketplace.

Oliver Tucker, CEO, Wireless Logic

 

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EQT Value-Add Infrastructure to acquire SK Shieldus, a leading South Korean integrated security operator

eqt
  • SK Shieldus provides central monitoring and dispatch services to 680,000 commercial customers, and market leading cyber security consulting and monitoring services
  • SK Shieldus, which marks EQT Value-Add Infrastructure’s first investment in South Korea, leverages digital and connected infrastructure to deliver services that make Korean society safer from both physical and cyber threats
  • SK Shieldus will be able to leverage EQT’s sector experience within physical and cyber security, and strong digitalization capabilities to enable more tailored and digitized security service offerings for its customers

EQT is pleased to announce that EQT Infrastructure VI (“EQT Value-Add Infrastructure”) has agreed to acquire SK Shieldus Co Ltd (“SK Shieldus” or the “Company”) from SK Square, an affiliate of South Korea’s second largest conglomerate SK Group, and Macquarie Asset Management’s Infrastructure business (“Macquarie”). Following the closing of the transaction, EQT Value-Add Infrastructure will own 68 percent in SK Shieldus, while its current shareholder, SK Square will remain as a minority shareholder with 32 percent.

Headquartered in Pangyo, South Korea, SK Shieldus is a scaled integrated physical security operator providing digital security infrastructure across 680,000 commercial customer sites and more than 100 central monitoring and dispatch centers across South Korea. The Company also provides a “closed loop offering”, covering both physical and cyber protection to strategic customer locations.

SK Shieldus is supported by strong secular tailwinds in South Korea, such as an aging population, increased digitization of traditional on-location guard services, and an increased focus on cyber security. The Company acts as a de facto extension of Korean public police and security services and is an embedded part of the country’s security network. The country’s security market is protected by high barriers of entry and stringent regulation requirements which require operators to have a dense network of dispatch and monitoring capabilities to deliver high-quality service to customers.

SK Shieldus is expected to leverage EQT’s strong sector expertise within physical and cyber security, and strong digitalization capabilities to enable more tailored and digitized security service offerings for each customer segment, with the ambition to make South Korea more safe in both physical and digital domains. Moreover, EQT Value-Add Infrastructure plans to decarbonize the Company’s vehicle fleet in favor of increased electrification and phasing out of fossil fuel. The Company will be supported by a new Board of Directors, with a combination of EQT’s Industrial Advisors, with backgrounds in leading security companies in Europe and North America, as well as prominent Korean business leaders.

Sang Jun Suh, Managing Director and Head of South Korea for EQT’s Infrastructure Advisory Team, said, “SK Shieldus marks EQT Value-Add Infrastructure’s first investment in Korea and comes just weeks after EQT opened a new office here in Seoul. The company is a clear leader in both the Korean physical and cyber security markets and EQT Value-Add Infrastructure is excited about partnering with SK Square to support SK Shieldus as it continues to roll out new digitized security solutions and invest in the decarbonization of its vehicle fleet.”

Park Jung-ho, Vice Chairman of SK Square, said, “Our joint management deal will provide us an opportunity to upgrade the global competitiveness of the Korean security industry. With the support from EQT, SK Square will further enhance the shareholder value, based on its first full-cycle investment performance since the launch of the company.”

The transaction is subject to customary conditions and approvals, including approval under the Foreign Investment Promotion Act. It is expected to close in Q3 2023.

EQT Value-Add Infrastructure was advised by Standard Chartered (financial), Kim & Chang (legal), PwC (financial, tax and technology) and BCG (commercial).

With this transaction, EQT Infrastructure VI is expected to be 5-10 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) and subject to customary regulatory approvals.

Contact
APAC media inquiries: daniel.ketema@eqtpartners.com, +65 9628 7576, mavis.ma@eqtpartners.com, +852 9280 9663
International media inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About SK Shieldus
SK Shieldus is a corporation merged between ADT Caps, the physical security company launched as Korea Security Service in 1971, and SK Infosec, the cyber security company launched in 2000. The combined company delivers a leading package of security services to Korean customers across Physical Security, Cyber Security and Converged Security.

More info: www.skshieldus.co

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PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

General Atlantic
  • Funding is expected to enable next wave of growth for Unified Payments Interface (UPI) and build digital financial services for Indians at scale
  • Announcement follows PhonePe’s recent separation from Flipkart and change of domicile to India

Bengaluru, India and New York, NY – January 19, 2023 – PhonePe, one of India’s largest fintech platforms, today announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion. Marquee Global and Indian investors are also participating in the round. The investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe’s recently announced change of domicile to India and full separation from Flipkart.

PhonePe plans to deploy the new funds to make significant investments in infrastructure, including the development of data centers and help build financial services offerings at scale in the country. The company also plans to invest in new businesses, including Insurance, Wealth Management, and Lending. The fundraise is expected to support PhonePe as it seeks to turbo-charge the next wave of growth for UPI payments in India, including UPI lite and Credit on UPI to enable greater financial inclusion for Indians.

Founded in December 2015, PhonePe has become a home-grown success story, with the company’s significant expansion powered by India’s emerging digital ecosystem. By building products and offerings tailored for the Indian market, PhonePe today has over 400 million registered users, meaning that more than one in four Indians are on PhonePe. The company has also successfully digitized over 35 million offline merchants spread across Tier 2, 3, and 4 cities and beyond, covering 99% of pin codes in the country.

“I would like to thank General Atlantic and all our existing and new investors for the trust they have placed in us. PhonePe is proud to help lead India’s country-wide digitization efforts and believes that this powerful public-private collaboration has made the Indian digital ecosystem a global exemplar. We are an Indian company, built by Indians, and our latest fundraise will help us further accelerate the Government of India’s vision of digital financial inclusion for all,” said Sameer Nigam, Founder and CEO at PhonePe. “We look forward to delivering the next phase of our growth by investing in new business verticals like Insurance, Wealth Management and Lending, while also facilitating the next wave of growth for UPI payments in India.’’

“Sameer, Rahul and the PhonePe management team have pursued a clear mission to drive payments digitalization and significantly broaden access to financial tools for the people of India. They remain focused on driving adoption of inclusive products developed on the open API based ‘India stack.’ This vision is aligned with General Atlantic’s longstanding commitment to backing high-growth businesses focused on inclusion and empowerment,” said Shantanu Rastogi, Managing Director and Head of India at General Atlantic. “We are excited to partner with the PhonePe team to help enable the next generation of digital innovation in India.”

PhonePe also recently announced a full separation from the Flipkart Group. After a partial separation from Flipkart in December 2020, a number of Flipkart shareholders, led by Walmart, acquired shares in the recent separation. This move will allow both companies to chart their own growth paths, build their businesses independently, and help unlock and maximize enterprise value for shareholders of the two companies.

About PhonePe

PhonePe was founded in December 2015, and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 43.5 crore (435+ Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized ~3.5 crore (~35 Million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% pin codes in the country. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2022 by Trust Research Advisory (TRA).

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $73 billion in assets under management inclusive of all products as of September 30, 2022, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

 

Media Contacts

Priya Patankar
PhonePe +91 9886675772 priya.patankar@phonepe.com

Emily Japlon & Gurion Kastenberg
General Atlantic media@generalatlantic.com

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Open-source platform Kern AI raises €2.7 million in seed funding to power data-centric natural language processing

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Seedcamp

The advent of ChatGPT is just the tip of the iceberg of the emerging natural language processing (NLP) technologies and applications that are fundamentally changing human-computer interaction and, ultimately, our daily work.

With the increased adoption of model architectures and frameworks, developers are focusing more and more on improving the data used to train AI systems. Taking a data-centric approach enables them to use a set of common algorithms and then increase the number of training samples severalfold (e.g., from 10,000 to 50,000) or reduce the number of errors in the training data.

This is why we are excited to back Kern AI, a data-centric platform to power natural language products, workflows, and ETL pipelines. Founded by Johannes Hötter and Henrik Wenck in November 2020, the Germany-based company is building a platform designed for developers who want to implement data-centric NLP solutions. Its use cases range from internal workflows for operational or analytical purposes, such as complex customer-facing services, to building sophisticated NLP applications with their platform as the training database.

Johannes Hötter highlights:

“Kern AI aims to build software with an outstanding developer experience. We strive to provide users with the flexibility to create what they want and to reduce the time between an idea and its implementation. We are confident that Natural Language Processing (NLP) will continue to grow, and with Kern AI’s modular platform, developers have all the resources they need to deploy use cases. This is what we excel at and what we want to demonstrate to the world.”

Since launching in July 2022, the open-source version of refinery and of the content-library bricks have reached several thousand developers. Both projects are available to download on Kern AI’s GitHub page.

Aiming to empower developers to manage complexity, the Kern AI ecosystem consists of four products:

  • refinery – combines training data and algorithms in a way that developers and data scientists can easily build NLP automations
  • bricks – a collection of modular and standardized code snippets which can be directly integrated into refinery
  • gates – an online monitoring and inference API for data-centric models
  • workflow – the orchestration layer for natural language-driven tasks that allows building complex workflows, which can be triggered by a variety of events

The company’s suite of products is used by data scientists at AI-driven organizations (including Samsung, Barmenia, DocuSign, co:here, and Seedcamp-back crowddev) to perform label automation, cleansing, and monitoring. Further possible applications include retrieval, outbound classification, named entity recognition, sentimental analysis, and more.

On why we invested, our Managing Partner Carlos Espinal comments:

“Johannes and Henrik have a deep understanding of the needs of NLP developers and data scientists and the ability to execute efficiently at scale. With their unique product insights and developer-centric approach, Kern AI is well positioned to become a fundamental tool for every company leveraging NLP.”

We are excited to co-lead Kern AI’s  €2.7 million seed round alongside Faber, with participation from xdeck, another.vc, TKM Family Office, and business angels Marcus Nagel, Julius and Sebastian Heinz, Nicolas Peters, and Gerrit de Veer.

With the fresh funding, the team plans to expand their platform’s capabilities and use case catalogue, grow their developer community, and make it generally available to the public.

Starting today, Kern AI also onboards individual developers in their free tier. Join the waitlist and request a demo at kern.ai.

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Wendel Growth invests in Brigad, an online tool connecting self-employed professionals with hospitality and care establishments

Wendel

Wendel (Euronext: MF.FP), through its Wendel Growth1 investment arm, announced today the acquisition of a minority stake in Brigad with an equity investment of €7 million.

Brigad is an online tool connecting self-employed professionals with hospitality and care establishments.
Brigad meets a dual need:
• offering companies operating in tense sectors the support they need by connecting them with a community of around 15,000 skilled professionals and,
• meeting the growing demand for more flexible and diversified work patterns. Indeed, self-employed professionals are free, allowing them to choose their missions and arrange their work, according to their personal schedule and professional objectives.

Founded in 2016, Brigad has been a mission-driven company since 2020. It now operates in the 5 main cities in France (Paris, Lyon, Lille, Bordeaux and Marseille) as well as in London, Manchester and Birmingham. Brigad has 150 employees.
Antoine Izsak, Head of Growth Equity, said:
« We have been very impressed by the level of satisfaction expressed by talents and companies who are using Brigad. We look forward to working with Brigad to expand the company’s mission and technical skills of its teams far beyond its current borders, into new geographies and sectors.”

Florent Malbranche, Brigad CEO, stated:
“We are delighted to welcome Wendel into Brigad’s capital as it shows its willingness to invest and promote professions. In addition, its financial expertise will be a major asset for Brigad’s future growth.”
1 Formerly Wendel Lab

About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies. With close to €192 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense and Tadaweb that should be finalized in 2023, Wendel Growth is supported by a team experienced in this asset class, including Antoine Izsak, who joined Wendel early 2022 as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds.

More information: https://www.wendelgroup.com/en/companies/wendel-growth/

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Arcus IT Group and Infradax join forces

Egeria

ZWOLLE, 1 February 2023 – IT service provider Arcus IT Group, which runs eight sites up and down the Netherlands, is adding Infradax to the group. “The takeover of Infradax sees Arcus IT double in size and acts to create a company that ranks among the top ICT service providers in the Netherlands. Infradax is bringing a number of interesting activities, services and market segments to the table and increasing our nationwide coverage with new locations. Infradax’ seasoned and spirited management team is also investing in the group in its own name. We consider them to be a major asset which, along with our investor Egeria, will help us to deliver on our growth ambitions in going forward”, comments Arcus IT Group CEO Rob Verbeek.

Solid market position 
Like Arcus IT, Infradax is a nationwide IT service provider that assists organisations with continuity, productivity and innovation through IT resources. Alongside Datacenter & Cloud, Modern Workstations and IT Security, Infradax specialises in circular IT services. Infradax mainly operates in the (health) care and business markets. In addition, Infradax Overheid focuses on municipalities and local authorities with specialist service delivery in the areas of application management and data management. As a result of a series of takeovers, in recent years Infradax has grown to become an organisation that is home to around 175 staff and five sites. In joining forces, we are moving to the next level with 425 enthusiastic staff members and 13 sites across the Netherlands.

The parties have submitted the proposed transaction to the Netherlands Authority for Consumers and Markets (ACM) and both works councils.

Nationwide IT service provider with regional presence
Infradax CEO Tjeerd van ‘t Veld: “We have grown quite a bit in recent years, not just in size but also in terms of our know-how and portfolio, in part courtesy of a number of takeovers. This next step will enable us to jointly work towards accomplishing our ambition to become the best nationwide IT service provider with a regional presence. In this sense, our visions are highly complementary. There is a degree of overlap in terms of services and client segments, but there is also a strong element of broadening our scope of operations, which will allow us to serve our clients even better than before. We are looking forward to implementing the next forward steps in developing our organisation in tandem with Arcus IT.”

The current year will be used to jointly lend concrete shape to our plans and to launch our working relationship in every respect. “Needless to say we are keen to give our clients the full benefit of our combined portfolio. However, in light of our size and the importance of continuity of service delivery to our clients, we do not want to act with undue haste”, explains Rob Verbeek.

Arcus IT Group
Arcus IT is a leading player on the Dutch market with well over three thousand clients in several focus sectors, including accountancy, healthcare, culture and SMEs. Arcus IT delivers a wide portfolio of products and services, including online work stations, Microsoft 365, IT security, AFAS implementation partner, VoIP phone services, Dynamics 365 and online back-up solutions. In order to efficiently serve its clients, Arcus IT Group has a proprietary Cloud platform and uses public Cloud services such as Microsoft Azure.

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FSN Capital VI acquires a majority stake in ilionx

Egeria

AMSTERDAM, 1 February 2023 – Egeria and FSN Capital VI (“FSN”) have completed the sale of ilionx, a leading IT-Services provider of business critical services to healthcare institutions, (semi) governmental organizations and commercial companies with over 500 employees.

Egeria’s investment in ilionx underscores Egeria’s focus on entrepreneurial team-ups with strong founders and ability to simultaneously execute on a high growth business case (i.e. buy and build) while transforming the organization and eliminating founder dependency.

Together with the founders and management, Egeria invested in ilionx in June 2017 to create a national IT services player with a broad service portfolio through an active buy-and-build strategy. In April 2018, ilionx doubled in size and created national coverage with the acquisition of IT service provider QNH. In 2019, ilionx strengthened its vertical focus with the acquisition of ICTZ, a healthcare specialist. In 2021-2022, ilionx announced five more acquisitions aimed at specific competences, incl. Rubix (integration), Le Blanc (architecture), Redbook (Salesforce), You-Get (hyperautomation) and Trivento (Java). During our investment period, revenue grew from €55 million to more than €200 million, a new management team took over the leadership role from the founders and the acquisitions were integrated into a strengthened, scalable organization.

About ilionx
ilionx is a B2B IT service provider that offers digital strategy, cloud-oriented application development, data & AI solutions, hyperautomation services and managed services. Headquartered in Utrecht, ilionx has national coverage with over 1,200 employees across thirteen locations in the Netherlands. ilionx was founded in 2002 and has over time demonstrated a strong ability to grow with its customers and become a trusted, long-term technology-independent IT-services provider.

About Egeria
Established in 1997, Egeria is an independent Dutch investment company focused on mid-sized companies in the Netherlands and DACH region. Egeria invests in healthy businesses with an enterprise value of between EUR 50 million and EUR 350 million, and believes in building businesses jointly with entrepreneurial management teams (Boldly Building Together). Egeria Private Equity Funds has interests in 14 companies in the Netherlands and Germany, while Egeria Evergreen has investments in 7 companies. Egeria’s portfolio companies generate combined revenues of more than EUR 2 billion and employ more than 12,000 people.

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Ardian acquires majority stake in Assist Digital, a leading European provider of end-to-end customer experience services and digital CRM technology, to accelerate its international growth

Ardian

23 January 2023 Expansion Italy, Milan

 

Reiterating their commitment to the business, the management team led by President and founder Enrico Donati and CEO Francesca Gabrielli will hold 40% of the company alongside Ardian.

Ardian, a world-leading private investment house, has signed a binding agreement to acquire a majority stake of about 60% in Assist Digital, the fast-growing international company providing end-to-end customer experience services. The firm is a leader in digital services and CRM technology with a network of 20 offices located across Europe, including in Italy, France, Germany, the United Kingdom, Spain and the Netherlands.

Progressio SGR, which has invested in Assist Digital through the Progressio Investimenti Fund III, will divest its minority stake while the management team will reinvest strongly alongside new partner Ardian, maintaining a stake of about 40%. BNL/Bnp Paribas, minority shareholder alongside Progressio, will also reinvest in Assist Digital.

Under the leadership of Executive Chairman Enrico Donati and CEO Francesca Gabrielli, Assist Digital has become a pan-European market leader serving over 100 blue-chip clients, including well-known brands such as ENI, Stellantis, Toyota, Luxottica, Vodafone and DAZN. Assist Digital’s unique offering and integrated business model has enabled the company to compete on a global scale by offering a suite of innovative and customer-centric end-to-end technology solutions and services.

The company’s success can also be credited to its skilled workforce and omnichannel structure, which is powered by its proprietary Artificial Intelligence software. The firm employs over 600 professionals working across consultancy, data science, software engineering and UX/UI design, and 5,000 contact center agents based across its European offices.

In 2022, Assist Digital recorded turnover of over €165 million, up 30% year-on-year, and expanded its international footprint through organic growth in its core markets. Management expects to achieve further increases in turnover this year, reaching more than €200 million by the end of 2023.

Through its partnership with Ardian, Assist Digital will be able to accelerate the implementation of its international expansion strategy, which will include M&A, and benefit from Ardian’s wide network of contacts. Ardian will also support the company with its continued investment in innovation and technology, while enhancing managerial continuity and the company’s ability to attract new talent.

“Assist Digital’s target market remains resilient even in the current economic climate. The company has significant organic growth potential as part of the trend towards outsourcing and digital transformation, which will be bolstered by its international M&A strategy. The Expansion team at Ardian offers a unique combination of strategic and financial support to strengthen Assist Digital’s presence in Europe. We see enormous potential in the company’s collaborative and skilled management team, who we will support in this next phase of growth by drawing on our experience and international network.” Marco Molteni, Managing Director, Ardian

“Ardian is the ideal partner to accelerate Assist Digital’s growth. Assist Digital is a unique skills and services platform, capable of attracting the best talent, empowering digital transformation and delivering a new standard of customer experience for our clients. Ardian’s investment strengthens our resilience and ability to face challenges, and will help us to expand internationally. Our employees, who are at the heart of this company’s dynamic, innovative and entrepreneurial culture, will also benefit from new opportunities for professional growth and development”. Enrico Donati, Executive Chairman, Assist Digital

“We are proud to have supported Assist Digital’s management team on an important development path, also with acquisitions in several European countries. We are convinced that there are preconditions to reach ambitious goals in the near future, which will lead to the further strengthening of Assist Digital’s leadership position on a European scale”. Massimo Dan, Partner Progressio Sgr

ADVISOR

  • ARDIAN

    • Deal team: Marco Molteni, Giacomo Brettoni, Elisabetta Bozzoni Pantaleoni, Edoardo Munari
    • M&A e debt advisor: Fineurop Soditic – Eugenio Morpurgo, Germano Palumbo, Umberto Zanuso
    • M&A advisor: Marco Morfino
    • Strategic consultant: Roland Berger – Andrea Bassanino, Nicola Morzenti
    • Financial advisor: KPMG – Matteo Contini, Stefano Rizzone
    • Legal advisor: Studio Gattai, Minoli, Partners – Stefano Catenacci, Gian Luca Coggiola
    • Tax advisor: Studio Gitti & Partners – Diego De Francesco, Paolo Ferrandi
    • Cybersecurity: Almond – Francois Ehly
    • ESG dd: PWC – Paloma Lopez Imizcoz
    • Insurance dd: Marsh – Federico Moia

  • ASSIST DIGITAL

    • Legal Advisors: Giovannelli&Associati, Alessandra Pieretti
    • Financial Advisor: Deloitte – Luca Zesi, Mario Arnone
    • Tax Advisor: Russo De Rosa Associati – Leo De Rosa, Federica Paiella

  • PROGRESSIO SGR/BNL-BNP Paribas

    • Legal Advisor: Bonelli Erede – Eliana Catalano, Marco Bitetto

Ardian

Ardian is a world-leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1000+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

ASSIST DIGITAL

Assist Digital provides end-to-end Customer Experience services and solutions in Europe with more than 20 offices in major markets, including France, Germany, Italy, the Netherlands, Spain, and the UK: customer management services – CX Advisory and Digital Operations – Experience Design and Customer Insight – AI, Tech, Cloud, and Digital Solution.
It is a leader in digital CRM services and technologies. The company employs more than 5,700 professionals and operating agents with expertise in marketing, sales, and customer services, as well as business process optimization, business & UX/UI design, AI & RPA, systems integration, data management, cloud services management, and IT operations.
Assist Digital serves large companies operating in various industries (B2B and B2C): Energy, Telco, Media, Insurance, Entertainment, Automotive, Banking, Retail, Travel and Tourism.

www.assistdigital.com

Media Contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com  

ASSIST DIGITAL

Carola Canossi

carola.canossi@assistdigital.com Tel.: 320 0514868

 

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Duck Creek Agrees to be Acquired by Vista Equity Partners for $2.6 Billion

Apax

Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announces it has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

Under the terms of the agreement, Duck Creek shareholders will receive $19.00 per share in cash, which represents a 46% premium to Duck Creek’s closing stock price on January 6, 2023, the last full trading day prior to the transaction announcement, and a premium of approximately 64% over the volume weighted average price of Duck Creek’s stock for the 30 days ending January 6, 2023.

“This transaction is a testament to the value of the Duck Creek platform, the success of our strategy and the strength of our incredible team. Following a deliberate and thoughtful process, the Board approved this transaction which delivers a great outcome for Duck Creek’s shareholders, providing them a certain and substantial cash value at an attractive premium,” said Michael Jackowski, Chief Executive Officer of Duck Creek. “Duck Creek is proud to have pioneered cloud-based mission-critical systems for the P&C insurance industry to deliver a best-in-class customer experience. We are excited to enter the next chapter for Duck Creek in partnership with Vista Equity Partners to continue supporting P&C insurance carriers’ move to the cloud.”

“Duck Creek is playing an outsized role in accelerating cloud strategies and unlocking all the advantages they provide this crucial sector of today’s economy,” said Monti Saroya, Senior Managing Director and Co-Head of Vista’s Flagship Fund. “Duck Creek’s modern cloud architecture and demonstrated market traction position it to define the next generation of mission-critical technology for P&C insurance.”

“Vista has an established track record of partnering with leading enterprise software businesses within the insurance industry and related verticals,” said Jeff Wilson, Managing Director at Vista. “We are excited to work with the Duck Creek team as we look to build on their best-in-class platform and solutions, which serve many of the world’s leading P&C insurance carriers.”

Certain Terms, Approvals and Timing

Transaction negotiations were led by a Special Committee of the Duck Creek Board of Directors, composed entirely of independent and disinterested directors. Following the recommendation of the Special Committee, the Duck Creek Board of Directors approved the merger agreement with Vista Equity Partners.

The transaction is expected to close in the second calendar quarter of 2023, subject to the satisfaction of customary closing conditions, including approval by Duck Creek’s stockholders and U.S. antitrust clearance. Upon completion of the transaction, Duck Creek’s common stock will no longer be publicly listed, and Duck Creek will become a privately held company. Vista Equity Partners intends to finance the transaction with fully committed equity financing that is not subject to any financing condition.

The agreement includes a “go-shop” period expiring at 11:59 p.m. Eastern time on February 7, 2023, which allows Duck Creek’s board of directors and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties. Duck Creek’s board of directors will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and Duck Creek does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or otherwise required.

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About Duck Creek Technologies

Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

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Tadaweb, Wendel Growth’s First Direct Investment in Europe

Wendel

Wendel (Euronext: MF.FP), through its investment arm Wendel Growth1, announced today
that it has entered into a definitive agreement to acquire a minority interest of Tadaweb.
Wendel will make an equity investment of €15 million to support Tadaweb’s growth. The
transaction is expected to close in the first quarter of 2023, subject to customary conditions
and regulatory approvals.
Tadaweb delivers open-source intelligence (OSINT) platforms that enable organizations to
generate actionable intelligence by making analysts’ investigative methods hyper-efficient,
reducing time to insight from days to minutes. Tadaweb’s platforms scale analysts’ expertise
across the vast, volatile reaches of the internet. This fast growth company, employing over
120 people, is headquartered in Luxembourg with offices in Paris, London, and Ottawa.
Jérôme Michiels, EVP, CFO and Head of Wendel Growth, said: “I am very pleased to
welcome Tadaweb into Wendel’s portfolio. This first direct investment in Europe by the
Wendel Growth investment team, led by Antoine Izsak, is fully in line with what we want to
target: innovative companies with high growth and leadership potential, led by committed
entrepreneurs.”

Antoine Izsak, Head of Growth Equity said: “We are delighted to make our first investment
in Tadaweb, a leader in the fast-growing OSINT market, where the company offers a unique
set of services and features as well as a world-class team. I’m looking forward to
implementing the partnership that we’re creating with François Gaspard and Genna Elvin
and their teams.”
Genna Elvin, Chief Tada Officer and cofounder stated: “This investment marks another
major milestone in our history. It will accelerate our expansion globally, including our entry
into the United States and additional European markets. We have been a profitable
company for over 5 years, and this represents a pivotal step for the company. Our recently
expanded leadership team, along with this relationship, significantly shifts our ability to scale
our products and the global markets we serve.”
1 Formerly Wendel Lab

François Gaspard, Chief Executive Officer and cofounder, shared: “Becoming part of
the Wendel portfolio, is another step in our long-term growth plans worldwide. We have a
shared history in Luxembourg as well as France and have a shared commitment to building
enduring businesses. At Tadaweb, we continue to be deeply steeped in our European roots.
This opportunity to partner with Antoine and the Wendel Growth team, is truly a special
moment in our story.”

Ted Hickey, Head of Strategy: “Our leadership team is excited to leverage the expertise
and global access Wendel Growth provides to their portfolio companies, which will be
important as we expand into new markets and scale our open-source intelligence platforms.”

About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies.
With close to €170 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense, Wendel Growth is supported by a new team made up of two professionals experienced in this asset class, including Antoine Izsak, who joined Wendel in early February as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds and funds of funds.

About Tadaweb:
Tadaweb reshapes how organizations generate intelligence from publicly available information, helping them detect critical trends and accelerate their investigations, mirroring analysts methods in a hyper-efficient and scalable process, reducing time to actionable insight from weeks to minutes. Learn more at tadaweb.com

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