Latest acquisition by Bridgepoint portfolio company Achilles brings advanced AI capabilities in-house, accelerating smarter, more accurate risk management through automation and intelligent data insights.
Achilles, a global leader in supply chain risk and performance management, has announced the acquisition of InfoControl, a specialist artificial intelligence (AI) and contractor management company based in Latin America. The acquisition deepens a successful long-term collaboration and marks a significant step forward in Achilles’ commitment to the responsible use of technology and data to deliver trusted, intelligent solutions for supply chain management and compliance.
The move will strengthen Achilles’ AI capabilities, enhance contractor management offerings, and unlock new opportunities in data extraction, analysis, and reporting for customers worldwide.
InfoControl brings advanced AI expertise in reading, interpreting, and extracting narrative data from complex documentation to deliver highly efficient and accurate supply chain data capture and non-financial reporting. The company’s Contractor Access Evaluation (CAE) tools are used across a range of industries in Latin America, complementing and extending Achilles’ Controlar solution.
As a leader in supply chain risk management, Achilles is committed to the ethical development and deployment of AI to enhance transparency, mitigate risks, and protect businesses’ reputations globally. With this latest acquisition, Achilles will continue to align its use of AI with its core values, the evolving expectations of stakeholders, and all relevant regulatory frameworks—ensuring its technology serves the purpose of building safer, more sustainable supply chains.
“Businesses are under increasing pressure to provide robust data in support of sustainability, due diligence, and disclosure frameworks such as CSRD, BRSR, LkSG, and Åpenhetsloven — while also navigating an increasingly complex global landscape,” said Paul Stanley, CEOat Achilles. “Accessing high-quality, reliable data remains a major challenge. This acquisition strengthens Achilles’ ability to efficiently and effectively deliver intelligent insights with greater speed and accuracy, helping our customers manage risk and build more resilient supply chains. I’m delighted to welcome the InfoControl team to Achilles.”
Matt Legg, Partner at Bridgepoint, majority shareholder in Achilles, commented: “Achilles continues to demonstrate strong strategic momentum through targeted acquisitions that enhance its technology leadership and global proposition. The acquisition of InfoControl brings highly relevant AI capabilities into the group, accelerating the delivery of scalable, data-driven solutions for customers worldwide.”
Achilles has already delivered several successful AI-driven features in the Achilles platform, including:
Predictive Risk Scoring: Using publicly available data to identify emerging supplier risks and reduce assessment costs for lower tier suppliers.
Real-time Data Validation: Increasing ‘right first time’ rates by automating validation of supplier responses.
AI-powered Data Mining: Extracting information in multiple languages to improve accuracy and reduce manual effort.
Smarter Supplier Onboarding: Streamlining supply chain data collection with pre-populated data from trusted sources.
“This partnership allows us to accelerate our vision and bring our capabilities to a much broader market,” said Francisco Pontoriero, co-founder of InfoControl. “Achilles’ global reach and deep industry expertise are a perfect match for our AI solutions. We are excited to join the Achilles group and begin this next chapter together.”
The acquisition of InfoControl follows Achilles’ purchases of GoSupply and Global Risk Management Solutions (GRMS), which expanded its capabilities in supplier evaluation and risk management across key global markets.
Achilles’ continued growth journey is supported by Bridgepoint, one of the world’s leading private asset growth investors, which partnered with the company in 2021 via its lower middle-market franchise, Bridgepoint Development Capital.
The partnership leverages Bridgepoint’s track record in scaling risk management, certification and consultancy businesses globally, including previous investments such as Element Materials Technology, ERM and HKA.
Raghib Hussain Appointed Chief Executive Officer of Altera
Sale of 51% Stake to Silver Lake to Accelerate Altera’s Independence and Leadership in Programmable Semiconductor Solutions
Advances Intel’s Strategy to Focus on its Core Business and Strengthen its Financial Position
SANTA CLARA, Calif.; SAN JOSE, Calif.; and Menlo Park, Calif., April 14, 2025 – Intel Corporation today announced that it has entered into a definitive agreement to sell 51% of its Altera business to Silver Lake, a global leader in technology investing.
The transaction, which values Altera at $8.75 billion, establishes Altera’s operational independence and makes it the largest pure-play FPGA (field programmable gate array) semiconductor solutions company. Altera offers a proven and highly scalable architecture and tool chain and is focused on driving growth and FPGA innovation to meet the demands and opportunities of an AI-driven market.
Intel will own the remaining 49% of the Altera business, enabling it to participate in Altera’s future success while focusing on its core business.
Intel also announced that Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera, effective May 5, 2025. Hussain is a highly accomplished and visionary technology executive with strong business acumen and engineering credentials. He joins Altera from his previous role as president of Products and Technologies at Marvell. Prior to joining Marvell in 2018, Hussain served as chief operating officer of Cavium, a company he co-founded. Prior to Cavium, Hussain held engineering roles at both Cisco and Cadence and helped found VPNet, an enterprise security company.
“Today’s announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet,” said Lip-Bu Tan, chief executive officer of Intel. “Altera continues to make progress repositioning its product portfolio to participate in the fastest growing and most profitable segments of the FPGA market. We are grateful for Sandra’s strong leadership and lasting impact throughout her 25-year Intel career and wish her continued success as she begins a new chapter. Raghib is a superb executive we selected to lead the business forward based on his vast industry experience and proven track record of success. We look forward to partnering with Silver Lake upon closing of the transaction, as their industry expertise will help to accelerate Altera’s efforts and unlock additional economic value for Intel.”
“This investment represents a once-in-a-generation opportunity to invest in a scale leader in advanced semiconductors. Together with Raghib, we will be focused on strengthening Altera’s technology leadership position and investing in emerging AI-driven markets such as edge computing and robotics,” said Kenneth Hao, chairman and managing partner of Silver Lake. “We look forward to working closely with Intel as a strategic partner who will continue to provide U.S.-based foundry services and complementary engagement with customers.”
“I am excited to lead Altera in its next chapter, and this milestone with Silver Lake furthers Altera’s journey to be the world’s No. 1 FPGA solutions provider,” said Hussain. “Backed by Silver Lake’s strong track record and now with clarity of focus as an independent company, Altera is well-positioned to build on its momentum and deliver breakthrough FPGA-based solutions that are shaping the future of compute driven by AI. I am grateful for the impact Sandra has made and the team she has built as we begin Altera’s next phase of growth.”
Altera has been at the forefront of driving FPGA innovations for more than 40 years. The company provides leading programmable solutions that are easy-to-use and deploy in a range of strategically important segments such as industrial, communications, data center and military, aerospace, and government, as well as emerging markets such as AI/edge and robotics. Its broad portfolio of programmable semiconductor solutions, software and development tools deliver the reliability and flexibility needed to accelerate customer technology innovation.
The transaction is expected to close in the second half of 2025, subject to customary closing conditions.
Upon closing, Intel expects to deconsolidate Altera’s financial results from Intel’s consolidated financial statements. In Fiscal Year 2024, Altera generated revenues of $1.54 billion, GAAP gross margin of $361 million and GAAP operating loss of $615 million. Altera’s Fiscal Year 2024 non-GAAP gross margin was $769 million and non-GAAP operating income was $35 million. Reconciliations between the GAAP and non-GAAP measures are provided below.
Morgan Stanley & Co. LLC acted as financial advisor to Intel.
Forward-Looking Statements
This release contains forward-looking statements that involve a number of risks and uncertainties, including with respect to the terms and anticipated timing of closing the agreed upon sale of a controlling interest in Altera and the potential benefits of such sale to Intel and Altera. Such statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including: the risk that the transaction may not be completed in a timely manner or at all, including as a result of a failure to receive regulatory approvals; the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction; the risk that the expected benefits of the transaction, including as a result of the increased independence of Altera, may not be realized; the risk of future loss of the Altera business by Intel as a result of the sale of a controlling interest in Altera; disputes or potential litigation related to the transaction or the ownership, control and operation of the Altera business, including as it relates to Intel; unanticipated costs related to the transaction or the Altera business that may be incurred; risks as to the retention of key Altera personnel and customers; risks related to the diversion of management’s attention during the pendency of the transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction; changes in demand for Altera’s semiconductor products; the high level of competition and rapid technological change in the semiconductor industry; and other risks and uncertainties described in Intel’s 2024 Form 10-K and our other filings with the SEC.
Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.
All information in this press release reflects Intel management views as of the date hereof unless an earlier date is specified. Intel does not undertake, and expressly disclaims any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.
Non-GAAP Financial Measures
This release contains references to non-GAAP financial measures: Altera non-GAAP gross margin and Altera non-GAAP operating income / (loss) measures. Set out below are reconciliations of these measures to the most directly comparable GAAP financial measures. The non-GAAP financial measures disclosed herein should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. Please refer to “Explanation of Non-GAAP Measures” in Intel’s earnings release dated Jan. 30, 2025 for a detailed explanation of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide investors with useful supplemental information.
Twelve Months Ended
(in Millions; Unaudited)
Dec 28, 2024
GAAP gross margin
$ 361
Acquisition-related adjustments
402
Share-based compensation
6
Non-GAAP gross margin
$ 769
GAAP operating income / (loss)
$ (615)
Acquisition-related adjustments
491
Share-based compensation
122
Restructuring and other charges
37
Non-GAAP operating income / (loss)
$ 35
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
About Altera
Altera is a leading supplier of programmable hardware, software, and development tools that empower designers of electronic systems to innovate, differentiate, and succeed in their markets. With a broad portfolio of industry-leading FPGAs, SoCs, and design solutions, Altera enables customers to achieve faster time-to-market and unmatched performance in applications spanning data centers, communications, industrial, automotive, and more. For more information, visit www.altera.com.
About Silver Lake
Silver Lake is a global technology investment firm, with approximately $104 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate nearly $252 billion of revenue annually and employ approximately 433,000 people globally.
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.
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.
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.
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.
Main Capital Partners (“Main”) announces its seventh platform investment for Main Foundation II.
March 31, 2025, Munich – Main Capital Partners (“Main”) announces its investment in VOQUZ Labs AG (“VOQUZ”), a German provider of SAP license management and IT spend optimization software. The company serves private enterprises, with a comprehensive suite of specialized tools. The acquisition marks the seventh platform investment for Main’s latest fund, Main Foundation II, launched in April 2024.
On March 28, 2025, shareholders of VOQUZ Labs AG, listed on the open market of the Munich Stock Exchange and Vienna Stock Exchange (ISIN: DE000A3CSTW4) signed a share purchase agreement with Main for the sale of their 95.3% stake in the company. The transaction, which values VOQUZ Labs in the lower double-digit million range, is expected to close by the end of April 2025. Following completion, Main intends to initiate a squeeze-out of minority shareholders in accordance with applicable legal provisions.
VOQUZ Labs, headquartered in Berlin, employs approximately 40 staff and offers a highly specialized software portfolio including samQ, visoryQ, and remQ. These solutions enable enterprises to automate SAP license management, streamline access governance, and ensure compliance. A core strength of VOQUZ lies in its ability to optimize and automatically reassign SAP-licenses, delivering significant SAP cost savings and ensuring that customers remain continuously and optimally licensed.
In addition, VOQUZ plays a strategic role in supporting organizations with their S/4HANA migration and RISE with SAP journeys. The company provides tools to calculate tailored business case scenarios, helping customers determine the most efficient and cost-effective S/4HANA license setup — a critical factor in successful SAP transformation initiatives.
With a global customer base of over 230 organizations and active operations across Europe, the Americas, and Asia, VOQUZ has built a strong reputation as a trusted partner in the complex world of SAP licensing and IT financial governance. While the SAP ecosystem is undergoing a significant transformation driven by the global shift to S/4HANA and RISE with SAP, VOQUZ is well-positioned to support enterprise clients through this transition. As organizations face increasing complexity and cost pressure during their migration, VOQUZ’s solutions provide critical tools to ensure optimize licensing and build cost-efficient migration scenarios.
The existing VOQUZ management team will work closely with Main to accelerate both organic and inorganic growth initiatives. Main brings a strong track record in scaling B2B software companies. Together, the partnership will focus on strengthening VOQUZ’s leadership position in SAP optimization, expanding its international presence, and further developing its innovative product suite.
Note: The shares of VOQUZ Labs AG are not listed on a regulated market within the meaning of Section 1(1) of the German Securities Acquisition and Takeover Act (WpÜG). Therefore, Main is not required and does not intend to submit a takeover offer to the remaining shareholders.
Martin Kögel, CEO of VOQUZ, said, “We are proud and excited to announce our partnership with Main Capital Partners and are convinced that Main is the ideal partner, bringing unmatched expertise in the software buy-and-build market. This success wouldn’t be possible without the dedicated team we’ve built and the strong partners we’ve surrounded ourselves with. We’re looking forward to the next chapter.”
Sven van Berge, Managing Partner and Head of DACH at Main, concluded, “We have closely followed VOQUZ’s development and see strong capabilities in navigating the complexities of SAP license management, compliance, and IT cost control. With continued strong demand for IT cost transparency and control, we consider the business a great fit for our portfolio.”
With continued strong demand for IT cost transparency and control, we consider the business a great fit for our portfolio.”
– Sven van Berge, Managing Partner and Head of DACH at Main
Martin Kögel, CEO of VOQUZ, said, “We are proud and excited to announce our partnership with Main Capital Partners and are convinced that Main is the ideal partner, bringing unmatched expertise in the software buy-and-build market. This success wouldn’t be possible without the dedicated team we’ve built and the strong partners we’ve surrounded ourselves with. We’re looking forward to the next chapter.”
Sven van Berge, Managing Partner and Head of DACH at Main, concluded, “We have closely followed VOQUZ’s development and see strong capabilities in navigating the complexities of SAP license management, compliance, and IT cost control. With continued strong demand for IT cost transparency and control, we consider the business a great fit for our portfolio.”
About VOQUZ
VOQUZ Labs, headquartered in Berlin, is a leading provider of software solutions for SAP license management, authorization, and compliance management. The company offers a specialized portfolio including products like samQ, setQ, visoryQ, and remQ, designed to optimize license costs and streamline SAP access control. With offices across Europe, North and South America, and Asia, VOQUZ Labs supports organizations worldwide in making their SAP environments more cost efficient and compliant.
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.
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.
(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.
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.
