Tag Archives: Information technology

Office Ally Embarks on Next Phase of Growth and Innovation with New Mountain Capital and Francisco Partners

Franciso Partners

VANCOUVER, WA, NEW YORK & SAN FRANCISCO – April 7, 2025 — Office Ally (or “the Company”), a leading healthcare technology company providing a comprehensive suite of cloud-based clearinghouse and software solutions to a national network of healthcare providers, partners, and health plans, announced a strategic growth investment from New Mountain Capital, a leading growth-oriented investment firm with more than $55 billion in assets under management. As part of the transaction, Francisco Partners, which originally invested in Office Ally in 2021, will also reinvest alongside management.

This investment empowers Office Ally to accelerate its strong growth and product roadmap to become a preeminent next-generation clearinghouse and software provider. With expanded resources, Office Ally will drive greater efficiency, automation, and interoperability across the healthcare ecosystem. Trusted by more than 80,000 healthcare organizations, Office Ally enables the exchange of more than 950 million transactions annually between providers and payers to coordinate patient care and enable healthcare payments.

“We are thrilled to have the opportunity to work with both New Mountain Capital and Francisco Partners on this next chapter of growth for Office Ally,” said Chris Hart, CEO of Office Ally. “The team at Francisco Partners have been incredible enablers of our success over the past several years and the New Mountain Capital team’s investing acumen, strategic insights and operational knowledge across the healthcare technology space make them an ideal partner for us moving forward. On behalf of the entire Office Ally team, we are proud to support the critical work of healthcare providers and payers across the country—and we cannot wait to work with both of these great firms to further our mission.”

Matt Holt, Managing Director and President, Private Equity at New Mountain Capital said, “We are excited to partner with Chris Hart, Francisco Partners and the entire Office Ally team to build a next-generation healthcare technology platform company. We have tracked Office Ally’s innovation record over the past few years and believe that the company is exceptionally well-positioned to lead the modernization effort of payment in the U.S. healthcare systems. Office Ally can leverage its technology and data assets to enable what we see as a modern, real-time payment system, bringing together clinical and administrative processes into a model that’s aligned with an overall shift to outcomes-based payment models. At New Mountain, we have been investing in the modernization of the healthcare system and we plan to bring our ecosystem and network to the benefit of Office Ally. We are excited to support the company’s leadership position in helping to shift the U.S. healthcare systems from a broken system of antiquated processes to a modern, proactive and efficient system that’s better aligned with the health of patients.”

Justin Chen, Partner at Francisco Partners said, “It has been a pleasure and a privilege to partner with Chris and the Office Ally team to accelerate growth and expand the business over the past several years. The team has built an exceptional company with a unique culture, customer-first approach, innovative product roadmap and compelling product suite. We are excited to continue supporting Office Ally’s mission and next stage of growth with our new partners at New Mountain Capital.”

William Blair served as financial advisor and Kirkland & Ellis served as legal advisor to Office Ally and Francisco Partners. Houlihan Lokey served as financial advisor and Ropes & Gray LLP served as legal advisor to New Mountain Capital.

Financial terms of the transaction were not disclosed.

About Office Ally

Office Ally is a healthcare technology company that offers cloud-based solutions tailored for healthcare providers, partners, and payers. Our comprehensive platform is trusted by more than 80,000 healthcare organizations of all sizes from start-ups to the Fortune 100. The Company’s all-payer clearinghouse connects healthcare organizations to a nationwide network enabling the secure exchange of clinical and financial information. For more information visit: www.officeally.com.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit: www.newmountaincapital.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $50 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

Under no circumstances does the information contained herein constitute an offer to sell or a solicitation of an offer to buy any security or interest in an investment vehicle managed by New Mountain Capital or Francisco Partners. Any such offer or solicitation can only be made through a definitive private placement memorandum describing the terms and risks of an investment to sophisticated persons who meet certain qualifications under the federal securities laws and are capable of evaluating the merits and risks of the investment. Nothing presented herein is intended to constitute investment advice, and no investment decision should be made based on any information provided herein. It should not be assumed that an investment will be profitable or that the performance of any particular investment will equal its past performance. No guarantee of investment performance is being provided and no inference to the contrary should be made. There is a risk of loss from an investment in securities, including the potential loss of principal. Past performance is not indicative of future results.

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smartTrade Announces Strategic Investment from TA alongside CEO and Management

HG Capital

AIX-EN-PROVENCE, France, 3rd April. smartTrade Technologies (“smartTrade”), a leading global provider of multi-asset electronic trading and payments platforms, today announced the entering into of an agreement in relation to a strategic investment from TA Associates (“TA”), a leading global private equity firm. David Vincent, CEO and Co-Founder of smartTrade, and the broader management team, would invest alongside TA at closing, reinforcing their shared commitment to the company’s future.

Headquartered in Aix-en-Provence, France, with subsidiaries in London, Paris, Geneva, New York, Toronto, Tokyo and Singapore, smartTrade empowers customers to grow their electronic trading and payments business through secure, cost-efficient and technologically advanced end-to-end SaaS solutions. TA’s investment would support continued product innovation, geographic expansion and scalable growth, with a particular emphasis on AI-driven solutions and deployment flexibility.

Upon completion of the transaction, Hg, a leading investor in European and transatlantic software and services businesses, would fully exit its majority investment in smartTrade. The transaction will be subject to customary workers’ council consultation process under applicable laws.

David Vincent, CEO & Co-Founder of smartTrade, said: “Our customers have always been our North Star and this partnership with TA will enhance our ability to serve them with innovative trading and payments solutions. My decision to invest alongside the management team and TA underscores our shared belief in smartTrade’s trajectory. We’re grateful to Hg for their strategic support over the past five years. During that time, we doubled our revenue, executed our first acquisition which strengthened our presence in North America, and laid the foundation for scalable growth. Looking ahead, we are committed to driving the next wave of client-centric innovation, including accelerated AI adoption and greater flexibility in hosting and execution, to meet our customers’ evolving needs.”

“smartTrade has firmly established itself at the forefront of electronic trading and payments technology. We believe the company’s market-leading solutions, culture of innovation and unwavering commitment to client success have positioned it well for continued growth,” said Max Cancre, Managing Director at TA. “We look forward to partnering with David and the whole smartTrade team as they continue to scale globally and drive further advancements for the capital markets industry,” added Morgan Seigler, Managing Director at TA.

Sebastien Briens, Partner at Hg, said: “We’ve worked in close partnership with smartTrade since 2020, helping to strengthen its position as the best-in-class modern trading and payments technology vendor. We thank David Vincent and his team for their impressive execution and continued focus on innovation, and we wish them well in their next phase of growth.”

Terms of the transaction are not disclosed. smartTrade was advised by Arma Partners. Houlihan Lokey and Deutsche Bank were advisers to TA Associates.

-Ends-

For further information, please contact:

TA

Maggie Benoit, mbenoit@ta.com

Hg

Tom Eckersley, tom.eckersley@hgcapital.com

Sam Ferris, sam.ferris@hgcapital.com

About TA

TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.

About Hg

Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come.

Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and around $75 billion in funds under management support a portfolio of around 50 businesses, worth over $160 billion aggregate enterprise value, with around 115,000 employees, consistently growing revenues at more than 20% annually.

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ReliaQuest Raises More Than $500 Million in Funding at a Valuation of $3.4 Billion

KKR

Growth round led by new investor EQT and existing investors KKR and FTV Capital

TAMPA, Fla. & NEW YORK–(BUSINESS WIRE)–ReliaQuest, a leader in AI-powered security operations, today announced a new funding round of more than $500 million led by EQT, KKR and FTV Capital, with participation from other existing investors Ten Eleven Ventures and Finback Investment Partners. The funding round brings ReliaQuest’s valuation to $3.4 billion. This new funding will support ReliaQuest’s continued growth, fueling further innovation in Agentic AI-driven cybersecurity automation and supporting the company’s ongoing international expansion.

ReliaQuest has established itself as a global cybersecurity leader, delivering a differentiated, AI-driven approach to security operations for large enterprises. The company’s technology platform, GreyMatter, seamlessly integrates with over 200 different cybersecurity tools, allowing security teams to leverage their current or future technology stack to drive greater visibility and AI-driven automation. This enables security teams to detect, contain, investigate and respond to cyber threats across a variety of cyber solutions within minutes, all while eliminating the most mundane work out of cybersecurity and delivering more value from existing investments.

This latest round of funding comes at a time of accelerating growth for ReliaQuest. Since the company’s last funding round led by KKR in 2020, the company has grown Annual Recurring Revenue more than 4x – recently surpassing $300 million. ReliaQuest is currently growing at more than 30% year-over-year and operating profitably.

“Everything we have done at ReliaQuest has always been driven by the problem we solve for our customers. Enterprise security teams have more data in more places than ever before, and the speed of the threat is rapidly increasing. CISOs need a way to contain threats within minutes without added cost or technical overhead, leveraging the latest innovations in Agentic AI,” said Brian Murphy, ReliaQuest founder and CEO. “This new investment is a key step along our growth trajectory as a company, but most importantly it will allow us to deliver better security outcomes for even more CISOs around the world.”

“Brian’s passion and dedication to building a world-class, mindset-driven organization is at the core of ReliaQuest’s success and sets a strong foundation upon which to build a category-defining cybersecurity company,” said Kirk Lepke, Partner in the EQT Growth advisory team. “By enriching GreyMatter with AI and automation capabilities, ReliaQuest has accelerated ahead of the pack, and now stands out as one of the only software vendors capable of managing security operations for the most complex enterprise environments. We are delighted to lead this funding round and look forward to supporting the company with our global platform as they continue to deliver solutions needed to push the industry forward.”

“When we first invested in ReliaQuest in 2020, we recognized its enormous potential given the rise of cyberattacks and the challenges cybersecurity teams faced in managing a multitude of tools with limited manpower. Over the years, the company has transformed with its leading AI-driven software platform, a relentless focus on innovation and a unique company culture,” said Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR. Patrick Devine, Managing Director at KKR, continued: “We are thrilled to continue working with Brian and the entire ReliaQuest team as they enter the next phase of their journey.”

“Having partnered with ReliaQuest for nearly a decade, we’ve witnessed first-hand Brian’s visionary leadership and the team’s exceptional ability to innovate and execute as they scaled from a bootstrapped startup to a leading global player in the cybersecurity ecosystem,” said Kyle Griswold, Partner at FTV Capital. “With consistent outperformance and a proven track record of serving many of the world’s largest enterprises, it’s clear that ReliaQuest’s AI-driven platform is uniquely positioned to empower customers with a best-of-breed approach towards cybersecurity, improving automation, operational efficiencies and, most critically, results. As ReliaQuest continues to shape the future of security operations, we are proud to continue our partnership for another successful era of growth ahead.”

In the face of rapidly evolving and increasingly sophisticated cyberattacks, ReliaQuest’s cloud-native GreyMatter technology is helping businesses striving to stay ahead of malicious threats. According to ReliaQuest’s Annual Cyber-Threat Report, threat actors can now move laterally within networks in an average of 48 minutes, highlighting the urgent need for faster, more effective security operations.

ReliaQuest’s GreyMatter platform, powered by Agentic AI models that can operate and learn autonomously, addresses this challenge by automating security processes and significantly reducing the time to contain threats. Using GreyMatter’s automation and AI capabilities, ReliaQuest customers can now perform investigations 20 times faster and with 30% greater accuracy than traditional methods, containing threats within less than five minutes and allowing security teams to focus on higher-level business needs rather than mundane tasks.

Goldman Sachs & Co LLC acted as exclusive financial advisor to ReliaQuest and Gibson Dunn acted as legal counsel to ReliaQuest and KKR. EQT Growth was advised by Piper Sandler and Freshfields US LLP.

About ReliaQuest

ReliaQuest exists to Make Security Possible. Our Agentic AI-powered security operations platform, GreyMatter, allows security teams to detect threats at the source, contain, investigate and respond in less than 5 minutes—eliminating Tier 1 and Tier 2 security operations work. GreyMatter uses data-stitching, detection-at-source, AI, and automation to seamlessly connect telemetry from across cloud, multicloud, and on-premises technologies.

ReliaQuest is the only cybersecurity technology company that delivers outcomes specific to each organization’s unique architecture, technology, and business needs.

With over 1,000 customers and 1,200 teammates across six global operating centers, ReliaQuest Makes Security Possible for the most trusted enterprise brands in the world. Learn more at www.reliaquest.com.

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating 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, X, YouTube and Instagram.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across enterprise technology and services and financial technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

 

Contacts

Media:

ReliaQuest
Kim Hill
khill@reliaquest.com

EQT
Max Berger or Finn McLaughlan
press@eqtpartners.com

KKR
Liidia Liuksila or Emily Cummings
+1 (212) 750-8300
media@kkr.com

FTV Capital
Prosek Partners for FTV Capital
(646) 818-9051
pro-ftvcapital@prosek.com

 

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Contact Information for Inquiries Regarding Compensation for Tendering Securityholders in First Tender Offer for FUJI SOFT

KKR

TOKYO, March 25, 2025 – FK Co., Ltd. (“Tender Offeror”), an entity owned by investment funds managed by KKR, will provide compensation to the shareholders and share option holders who tendered into the First Tender Offer that was completed on November 5, 2024 (“Securityholders Eligible for Compensation”) in connection with the two-stage tender offer scheme for the common shares and share options of FUJI SOFT INCORPORATED (TSE stock code 9749; “FUJI SOFT”), as stated in KKR’s press release on November 15, 2024, “KKR Receives Support and Recommendation from FUJI SOFT for Second Tender Offer and Expects to Launch Tender Offer Next Week” (“KKR Press Release Dated November 15, 2024”). Accordingly, KKR is providing a dedicated contact point for inquiries for the Security Holders Eligible for Compensation.

Eligible Persons
Shareholders and share option holders of FUJI SOFT that tendered in the First Tender Offer.

Compensation
Securityholders Eligible for Compensation will be compensated in the amount calculated by multiplying the compensation amount per share or share option announced in the KKR Press Release Dated November 15, 2024 (namely 651 yen per common share, 130,200 yen per 5th Series Share Option, 130,200 yen per 6th Series Share Option, and 65,100 yen per 7th Series Share Option), by the respective number of shares or share options that the Securityholder Eligible for Compensation tendered in the First Tender Offer.

Next Steps
The Tender Offeror plans to contact the Securityholders Eligible for Compensation sequentially from mid-April 2025 onwards. If you are no contacted by the Tender Offeror by the end of April 2025, please reach out via the email address provided below.

Contact Point for Inquiries
Dedicated contact point for inquiries for the Security Holders Eligible for Compensation:
fujisoft_inquiry@kkr.com

 

This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities. The existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the First Tender Offer, nor shall it be relied upon in concluding an agreement regarding the First Tender Offer.

 

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KKR Enters into MoU with Founding Family of FUJI SOFT; to Acquire 100% of FUJI SOFT

KKR

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, announced today that in connection with the privatization of FUJI SOFT INCORPORATED (TSE stock code 9749; “FUJI SOFT” or the “Company”) by FK Co., Ltd. (“FK”), an entity owned by investment funds managed by KKR, a Memorandum of Understanding (“MoU”) was entered into on March 24, 2025 with the founding family of FUJI SOFT to take the Company private.

Under the MoU, the parties agree to:

  • collaborate in the implementation of a share consolidation that will result in FK and NFC Corporation (“NFC”) becoming the only shareholders of FUJI SOFT (“Squeeze-out”);
  • vote in favor of various proposals concerning the privatization, including the Squeeze-out, at the Extraordinary General Meeting of Shareholders to be held on April 25, 2025; and
  • the transfer of FUJI SOFT shares held by NFC to FUJI SOFT after the completion of the Squeeze-out (“Share Repurchase”).

In addition to the securities that FK acquired through the First and Second Tender Offers for the common shares and share options of FUJI SOFT, the Squeeze-out and Share Repurchase will result in FK acquiring 100% of the shares of FUJI SOFT. The Extraordinary General Meeting of Shareholders for the Squeeze-out is scheduled to be held on April 25, 2025, and the Share Repurchase is currently planned after early June 2025, after the Squeeze-out takes effect.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

For more information, please contact:

KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR

 

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SoftBank Group to Acquire Ampere Computing

Carlyle

(TOKYO, Japan) and (Santa Clara, CA) – March 19, 2025 – SoftBank Group Corp. (TSE: 9984, “SoftBank Group”) today announced that it will acquire Ampere® Computing, a leading independent silicon design company, in an all-cash transaction valued at $6.5 billion. Under the terms of the agreement, Ampere will operate as a wholly owned subsidiary of SoftBank Group and retain its name. As part of the transaction, Ampere’s lead investors – Carlyle (NASDAQ: CG) and Oracle Corp. (NYSE: ORCL) – are selling their respective positions in Ampere.

As SoftBank Group broadens its AI infrastructure investments in ventures such as Cristal intelligence and Stargate, the acquisition will help enhance SoftBank Group’s capabilities in key areas and accelerate its growth initiatives.

“The future of Artificial Super Intelligence requires breakthrough computing power,” said Masayoshi Son, Chairman and CEO of SoftBank Group Corp. “Ampere’s expertise in semiconductors and high-performance computing will help accelerate this vision, and deepens our commitment to AI innovation in the United States.”

“With a shared vision for advancing AI, we are excited to join SoftBank Group and partner with its portfolio of leading technology companies,” said Renee James, Founder and CEO of Ampere. “This is a fantastic outcome for our team, and we are excited to drive forward our AmpereOne® roadmap for high performance Arm processors and AI.”

Founded in Silicon Valley in 2018 with an initial focus on cloud-native computing, Ampere has since expanded into sustainable AI compute. The company has multiple products for a spectrum of cloud workloads from the edge to the cloud data center.

Transaction Details
Under the terms of the agreement, SoftBank will acquire Ampere for $6.5 billion in cash.  The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2025. Ampere’s headquarters will remain in Santa Clara, CA.

About SoftBank Group

The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers, as well as a majority stake in Arm, which is building the future of computing; and the SoftBank Vision Funds, which are investing to help transform industries and shape new ones. To learn more, please visit https://group.softbank/en.

About Ampere
Ampere is a semiconductor design company focused on high-performance, energy efficient, sustainable AI Compute based on the Arm compute platform. To learn more, please visit https://amperecomputing.com.

 

Media contacts:

Ampere

press@amperecomputing.com

 

SoftBank Group

softbank@fgs.global.com

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EQT to acquire Crown Castle’s Small Cells Solutions business

eqt

Avetta Overview Pic

  • Crown Castle’s Small Cells Solutions business builds and operates small cells nationwide, serving mobile densification needs for cellular carriers
  • Transaction highlights EQT’s active ownership approach by acquiring an attractive, stable core infrastructure platform targeting a substantial market opportunity
  • EQT will aim to further accelerate the Company’s future growth ambitions 

EQT is pleased to announce that the EQT Active Core Infrastructure fund (“EQT”)” has entered into a definitive agreement to acquire Crown Castle Inc.’s (“Crown Castle”) (NYSE: CCI) Small Cells Solutions business (the “Company”) in a transaction valuing it at approximately $4.25 billion.

Crown Castle’s Small Cells Solutions business is a leading builder and operator of digital infrastructure, specializing in the deployment of small cell networks that enhance essential wireless connectivity. The Company operates a nationwide portfolio of approximately 115,000 small cells on air or under contract spread across 43 states, serving the top three U.S. mobile network operators. The Company plays an important role in providing capacity for high-demand areas lacking macro towers through its extensive network of small cells.  

The increasing demand for bandwidth-intensive activities, driven by the proliferation of 5G, IoT, AI, and other emerging technologies, is accelerating the need for network densification. The Company is well-positioned to capitalize on these underlying digitization trends, providing turnkey services that enable carriers to expand coverage, improve network efficiency, and meet growing global mobile data traffic demands. 

“Small cell networks are an essential part of the digital infrastructure ecosystem,” said Alexander Greenbaum, Partner and Head of EQT’s Active Core Infrastructure Advisory team. “This investment is a natural fit within EQT Active Core Infrastructure’s strategy – investing behind long-term contracted, core infrastructure assets with strong growth potential. With EQT’s deep experience in digital infrastructure and active approach to value creation, we see significant opportunity to support the Company’s continued growth.” 

“Crown Castle’s Small Cells Solutions business is a platform at the heart of the next generation of digital infrastructure, enabling essential digital connectivity that will help power the future,” said Nirav Shah, Partner within EQT’s Infrastructure Advisory team. “With its significant scale, operational excellence, and deep carrier relationships, the Company is poised to benefit from positive digital tailwinds. We look forward to partnering with the business to help fuel its next phase of growth, drive cutting-edge innovation, and support the long-term expansion of critical digital infrastructure.” 

With a strong foundation of long-term contracts, operational expertise, and deep-rooted carrier relationships, the Company has firmly established itself as a partner of choice in the U.S.  EQT will support the Company through its next phase of growth by leveraging its global scale and significant experience within the digital infrastructure space to strengthen its asset base and further deepen its relationships with leading mobile network operators. 

Transaction Details 

As part of the transaction, the EQT Active Core Infrastructure fund will acquire Crown Castle’s Small Cells Solutions business, while Zayo, backed by the EQT Infrastructure IV fund and Digital Bridge, will independently acquire Crown Castle’s Fiber Solutions business, as communicated in a separate transaction announcement today. Concurrent with the acquisitions, Zayo and the Small Cells business will enter into a long-term commercial agreement whereby Zayo will provide fiber to the Small Cells business. The total combined value of the Fiber Solutions and Small Cells transaction is $8.5 billion.

The transaction is expected to close in the first half of 2026, subject to regulatory review and other customary closing conditions.

TD Securities served as sole financial advisor and Kirkland & Ellis as legal advisor to EQT in connection with the transaction.

Contact EQT Press Office, press@eqtpartners.com

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Clario Enters into Definitive Agreement to Acquire WCG’s eCOA Business

Arsenal Capital Partners

Acquisition of WCG’s electronic clinical outcome assessments (eCOA) business will expand Clario’s scientific expertise and offerings in neuroscience

Philadelphia, PA – Clario, a leading provider of endpoint data solutions to the clinical trial industry, today announced they have entered into a definitive agreement to acquire the eCOA business of WCG, a leader in providing solutions that measurably improve and accelerate clinical research.

Electronic clinical outcomes assessments (eCOA), in addition to paper assessments, are used to evaluate the safety and efficacy of new drugs by measuring how a clinical trial participant feels or functions. WCG’s eCOA operations offer robust, full-service clinical expertise and specialized functionality, particularly in neurology, psychiatry, neuropathic pain, and rare diseases.

“WCG’s eCOA business has a well-earned reputation for industry-leading expertise in neuroscience. Adding their scientific and operational capabilities to expand our neuroscience capabilities in imaging and digital physiology aligns with Clario’s vision to transform lives by unlocking actionable evidence,” said Chris Fikry, M.D., chief executive officer, Clario. “I am excited about the long-term positive impact this will have on customers and patients.”

“WCG’s eCOA expertise and capabilities in subjective endpoints are a strategic and complementary fit with Clario’s endpoint solutions. This transaction allows WCG to focus on being a trusted partner in connecting sponsors and CROs with sites to accelerate trials through trial design, study review, site activation, and participant recruitment and retention,” said Sam Srivastava, chief executive officer, WCG. “With a legacy of supporting clinical trials over more than five decades across 130 countries, we remain well-positioned to accelerate clinical research through our AI-enabled data, technology, and expertise, paving the way to bring life-saving therapies to patients, faster.”

Customers of both companies can expect no immediate changes to existing contracts or relationships.

“This complementary acquisition will augment our offerings by expanding our scientific expertise and service delivery capabilities,” said Clario EVP and General Manager of eCOA, Terry Burke. “I am delighted that we will be positioned to further enable the success of our customers and ultimately have a greater impact on patients with unmet medical needs.”

The transaction is subject to regulatory approvals and other customary closing conditions. Until the acquisition closes, both organizations will continue to operate as independent entities.

About Clario:

Clario is a leading provider of endpoint data solutions to the clinical trials industry, generating high-quality clinical evidence for life sciences companies. We offer comprehensive evidence-generation solutions that combine medical imaging, eCOA, precision motion, cardiac solutions and respiratory endpoints.

For more than 50 years, Clario has delivered deep scientific expertise and broad endpoint technologies to help transform lives around the world. Our endpoint data solutions have been deployed over 26,000 times to support clinical trials in more than 100 countries. Our global team of science, technology, and operational experts have supported over 60% of all FDA drug approvals since 2012. Clario’s controlling shareholders are Astorg, Nordic Capital, Novo Holdings, and Cinven.

For more information, go to Clario.com or follow us on LinkedIn.

About WCG:

WCG is a global leader of solutions that measurably improve and accelerate clinical research. Biopharmaceutical and medical device companies, contract research organizations (CROs), research institutions, and sites partner with us for our unmatched expertise, data intelligence, and purpose-built technology to make informed decisions and optimize study outcomes, while maintaining the highest standards of human participant protection. WCG raises the bar by pioneering new concepts, reimagining processes, fostering compliance and safety, and empowering those who perform clinical trials to accelerate the delivery of medical therapies and devices that improve lives. For more information, please visit wcgclinical.com or follow us on LinkedIn or X @WCGClinical.

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Darwinbox Raises $140 Million Investment Co-led by Partners Group and KKR to Accelerate Global Expansion

KKR

HYDERABAD, India–(BUSINESS WIRE)– Darwinbox, a leading global human resource (“HR”) technology platform, today announced the signing of definitive agreements under which Partners Group, one of the largest firms in the global private markets industry (acting on behalf of its clients), and funds managed by KKR, a leading global investment firm, will co-lead an investment of $140 million in the company, with additional participation from Gravity Holdings. The addition of Partners Group and KKR to an already-solid cap-table underscores Darwinbox’s strong momentum over the recent years. The investment positions Darwinbox well to deepen its technology leadership and accelerate its international expansion plans.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250304817935/en/

Founded in 2015, Darwinbox is a mobile-first and AI-enabled human capital management platform that serves more than 1,000 enterprises around the world. In less than a decade, Darwinbox has expanded internationally across multiple markets, including Asia Pacific, the Middle East, the United Kingdom, and the United States. In particular, since its entry into North America two years ago, the company has seen significant traction and is doubling down on its regional presence. Over the last two years, Darwinbox has built a robust and diversified global portfolio, having achieved a fivefold growth in revenue in international markets, with over 60% of new revenue coming from international markets.

In 2024, Darwinbox was recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites for enterprises with more than 1,000 employees, making it the youngest and only Asian company to receive the accolade.

“This investment is a testament to Darwinbox’s strong fundamentals and the trust we have earned from our 1,000+ global customer base,” said Jayant Paleti, Co‐founder of Darwinbox. “By placing the employee experience front and center — and ensuring our platform is deeply configurable to diverse local needs — we have helped transform HR for enterprises globally. With top-tier investors backing us, we’re poised to amplify our global momentum and deliver innovative AI‐powered solutions for thousands of enterprises worldwide.”

Cyrus Driver, Managing Director, Private Equity, Partners Group, comments, “Darwinbox operates in the rapidly growing HR tech market, which we have been tracking through our thematic research. The company is acting as a key disruptor to legacy platforms in this space, investing heavily in product innovation, generative AI, and global expansion, and is well positioned to take market share. We look forward to working with Darwinbox’s talented management team on driving future growth. The company represents another exciting addition to our private equity growth portfolio.”

Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “Darwinbox has established itself as a leading player in the human capital management space in a short span of time through its focus on innovation and customer centricity. We are pleased to support Darwinbox on its next stage of growth and will look to draw from our global network and expertise to accelerate its international expansion ambitions.”

Globally, over 3 million employees from leading brands — including Starbucks, Nivea, AXA, Cigna, WeWork, Crisil (an S&P company), T-Systems, and more — rely on Darwinbox’s platform for modern HR management. Darwinbox’s recent wave of product rollouts — highlighted by a multi-country payroll solution and enhanced GenAI features — demonstrates its commitment to next-generation HR innovation.

Partners Group invests through its growth equity strategy, which applies a thematic approach to identify investment opportunities in growth-stage companies globally. Partners Group made its first growth investment in 2013 and has deployed around $2.5 billion in the space to-date. The firm’s recent growth investments include Lumin Digital, a leading cloud-native digital banking provider, and Neara, one of the first AI-powered predictive modeling software platforms for critical infrastructure.

KKR makes its investment from its Asia Next Generation Technology strategy, which seeks to support the growth of innovative, disruptive companies in Asia across consumer technology, software, and FinTech. This marks KKR’s latest growth equity investment in India and the region, including Rebel Foods, an internet restaurant company in India; Lenskart, an omni-channel eyewear retailer; Livspace, an omni-channel home interior and renovation platform; KiotViet, a SaaS platform for SMBs in Vietnam; and Privy, a digital trust provider in Indonesia.

Avendus Capital acted as the financial advisor and investment banker on this transaction.

About Darwinbox

Founded in 2015, Darwinbox is a global HR tech leader that empowers enterprises to better manage their talent with new-age employee experiences and disruptive AI-powered technology. Its cloud-based Human Capital Management (HCM) software caters to an organisation’s HR needs across the entire employee lifecycle. Darwinbox is trusted by over 3 million employees from more than 1000 enterprises across 130 countries. Darwinbox has been backed by global investors like TCV, Microsoft, Salesforce Ventures, Peak XV, Lightspeed and Endiya Partners among others.

About Partners Group

Partners Group is one of the largest firms in the global private markets industry, with around 1’800 professionals and over USD 150 billion in assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to build businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Gravity Holdings

Gravity Holdings is a technology growth equity firm. Gravity invests in technology businesses whose persistent competitive advantages support unusually high growth and cash generation over the long term. Gravity leverages its global network to unlock bespoke growth opportunities for the firm’s small handful of partnerships. For further information please visit www.gravityholdings.com.

Media Contacts

For more information, please contact:

For Darwinbox
Rishita Chiranewala
Rishita.Chiranewala@darwinbox.in

For Partners Group
Henry Weston
Henry.Weston@partnersgroup.com

For KKR Asia Pacific
Wei Jun Ong
WeiJun.Ong@kkr.com

Source: KKR & Co. Inc.

 

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Systems Planning & Analysis (SPA), an Arlington Capital Partners Portfolio Company, Completes Acquisition of Proximity Advisory Services

Proximity is Market Leader in Consulting, Legal, and Commercial Services to Government

ALEXANDRIA, VA – March 4, 2025 – Systems Planning & Analysis (SPA), a leading global provider of data- driven analytical insights supporting complex national security programs and defense priorities, has acquired Proximity, a leading Australian provider of consulting, legal, and commercial services to government. Proximity joins SPA Australia, a wholly owned subsidiary of Systems Planning & Analysis.

The acquisition of Proximity significantly expands SPA’s international footprint and presence in the Australia market. Proximity adds mission-critical clients across whole of government and major Commonwealth public sector agencies in Australia, including Department of Defence, Department of Home Affairs, Australian Taxation Office, Department of Health Services Australia, and Department of Social Services.

With the acquisition, SPA’s service offerings in Australia will expand in the areas of change management, procurement and contract management, program and project management, public law and legal support services, and business cases and cost modeling.

SPA CEO Rich Sawchak commented, “Proximity is a sought-after and highly respected multidisciplinary government consultancy with an impressive client list. Its strong consulting, legal, and commercial practice areas broaden our capabilities and reinforce our commitment to Australia, where we have supported major clients since 2010. We are thrilled to expand our success globally, and we wholeheartedly welcome our new and talented Proximity team members.”

SPA Australia and Proximity are headquartered in Canberra, with Proximity also located in Melbourne and Adelaide.

Zoe Lynam, Proximity’s CEO, with over 15 years working in executive and general management roles, will take the helm as Managing Director, SPA Australia, and Group Leader of the Australia Group, reporting to SPA Senior VP and Sea, Land, Air Division Director Dave Duryea.

SPA President Terry Benedict (VADM, USN, Ret.) added that “Proximity brings a leadership team that understands Australia’s defense issues at a critical time for strategic considerations in the Pacific theater. I look forward to working with Zoe and her team to expand our advisory and analytic support for our defense-focused clients as well as to provide new services through each of Proximity’s practice areas.”

Zoe Lynam stated “We’re proud of the strong reputation we’ve earned in the Australian market, and SPA is a natural fit given our shared commitment to integrity and client service. We are honored and excited to share our deep, mission-critical expertise with a global company of SPA’s caliber.”

David Wodlinger, a Managing Partner at Arlington Capital, said “SPA’s acquisition of Proximity brings cutting-edge capabilities, approaches, and expertise that will enhance SPA’s position as the trusted partner of choice for the defense community and whole of government clients. This is an excellent match that further solidifies SPA’s reputation for quality.”

 

About SPA

SPA is a premier, independent global advisory and technical services firm supporting complex national security programs and defense priorities. SPA’s portfolio of differentiated capabilities and tools delivers comprehensive support to the most critical programs for combatting threats, influencing long-term strategic priorities, and shaping policies at the highest levels. With over 2,200 professionals, SPA’s employees are subject matter experts in numerous domains, including Land, Undersea, Surface and Air Warfare Operations; Intelligence Community, Radar and Sensor Systems; Unmanned Systems and Counter Systems; Defense Industrial Base and Economic Security; Space Systems; Ballistic Missile Systems; Cybersecurity Analysis and Policy; and Hypersonics. Awards include GovCon Contractor of the Year in 2022, Washington Post Top Workplace consecutively since 2014, and Department of Labor HIRE Vets Gold Medal for the past seven consecutive years. SPA is a portfolio company of Arlington Capital Partners. For more information: www.spa.com.

 

About Arlington Capital Partners

Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government-regulated industries. The firm partners with founders and management teams to build strategically important businesses in the healthcare, government services & technology, and aerospace & defense sectors. Since its inception in 1999, Arlington has invested in over 175 companies and is currently investing out of its $3.8 billion Fund VI. For more information, visit Arlington’s website at www.arlingtoncap.com and follow Arlington on LinkedIn.

 

 

Contacts

Systems Planning & Analysis (SPA)

Sue Nelowet, Director of Communications

snelowet@spa.com

 

Arlington Capital Partners

Ryan Fitzgibbons and Meredith Bishop

Pro-arlington@prosek.com

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