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CVC welcomes strategic minority partnership investment from KKR into Etraveli Group

KKR

Stockholm, Sweden, 21 July, 2025 

CVC Capital Partners (“CVC”) today announced that KKR has agreed to acquire a significant minority stake in global travel technology company Etraveli Group. The strategic partnership between CVC and KKR positions Etraveli Group for an exciting next chapter of growth and reinforces its position as the world’s largest flight intermediary and fulfilment company outside of China. Financial details of the transaction have not been disclosed.

Headquartered in Stockholm, Sweden, Etraveli Group operates a sophisticated Flight Tech Platform that delivers airline tickets to nearly 50 million travellers annually across 75 markets. With a mission to offer the broadest range of high-quality air content – easy to book and competitively priced – the company leverages AI-driven technology, deep industry expertise and strong strategic partnerships. Its services are delivered through its own consumer-facing brands such as Gotogate, Mytrip and Flightnetwork, as well as through its booking and fulfilment solutions for global partners like Booking.com, Radisson Hotel Group and TUI.

“We are excited to welcome KKR as a new investment partner, given their strong track record in the global travel and technology markets,” said Mathias Hedlund, Etraveli Group’s Chief Executive Officer. “This is another landmark moment for Etraveli Group that strengthens our global position and marks the next chapter in our effort to bring innovation and expertise to facilitate flight purchases for customers around the world. Together with CVC and KKR, we look forward to accelerating the expansion of our global B2B Flight Tech Platform and continuing to deliver smart, seamless travel solutions together with our partners.”

CVC’s Technology and Nordic teams led the acquisition of Etraveli Group from media company ProSiebenSat.1 in 2017, partnering with management to accelerate the company’s transformation into the global market leader. Today, Etraveli Group facilitates over €15 billion of flight sales annually, having consistently delivered strong double-digit growth, with earnings today approximately 4x higher than at the time of the CVC fund’s original investment. Etraveli Group is well-positioned for sustained growth, underpinned by its strategic partnership with Booking.com, a robust pipeline of B2B opportunities and a promising fintech offering.

“Mathias and his team have built a world-leading e-commerce platform for flights and it has been an absolute pleasure to have supported them over the past eight years, delivering significant growth for Etraveli Group. We look forward to continuing our involvement with the business as a joint shareholder with our new partners at KKR and we’re excited to embark on the next phase of the journey with the company,” said Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC, and Gustaf Martin-Löf, Partner of CVC.

Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR, said: “Etraveli Group has established itself as a clear global leader in flight technology with a unique platform, deep industry integration and a strong track record. We are pleased to partner with the Etraveli Group’s leadership team and CVC to deliver a tailored capital solution that will help support Etraveli Group’s continued expansion and innovation. This investment builds on KKR’s commitment to backing European champions and contributing to the growth of high-quality, tech-enabled businesses.”

KKR is investing in Etraveli Group primarily through funds and accounts managed by its Strategic Investments Group, which provides structured partnership capital solutions, alongside the full breadth of KKR’s value-added resources to market leading businesses.

J.P. Morgan Securities Plc acted as Exclusive Financial Adviser to CVC, in connection with KKR’s minority partnership investment into Etraveli Group.

 

– Ends –

About Etraveli Group

Etraveli Group (ETG) is a global technology company headquartered in Sweden. The company specialises in delivering high-quality flight content through flexible technology solutions – empowering both consumers and the companies that serve them. Etraveli Group’s services span the full flight journey – from search to booking to fulfilment – offered via leading consumer brands such as Gotogate, Mytrip and Flightnetwork, as well as through global partnerships with Google Flights, Skyscanner, KAYAK, Booking.com and others. ETG also operates TripStack, an airline integration platform, and Flightmate (Flygresor.se), a leading flight metasearch engine. The Group encompasses a team of over 3,100 professionals, working across offices and tech hubs in Sweden, Greece, Poland, the UK, Canada, India and Uruguay. For more information, visit: www.etraveligroup.com

About CVC

CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €202 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €260 billion from some of the world’s leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 140 companies worldwide, which have combined annual sales of over €168 billion and employ over 600,000 people. For further information about CVC please visit: https://www.cvc.com/. 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.

 

Media Contacts

For Etraveli Group
Kristoffer Rengfors
press@etraveligroup.com

For CVC
Carsten Huwendiek
+44 207 420 4200
chuwendiek@cvc.com

For KKR
Miles Radcliffe-Trenner
media@kkr.com

 

 

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Novacap Reinvests in NDT Global as Part of Strategic Separation from Previan

Novacap

Novacap, a leading North American private equity firm, completed its reinvestment in NDT Global, a division of Previan, a Novacap portfolio company, who provides advanced in-line inspection, integrity management and robotics solutions. This transaction supports the formal separation of NDT Global into an independent company, backed by Novacap in partnership with La Caisse (formerly CDPQ) and management, and marks a significant milestone in its evolution.

NDT Global operates worldwide, delivering industry-leading inspection technologies and actionable data insights that help operators in the energy sector ensure the safety, reliability, and longevity of critical infrastructure assets.

The transaction results from Previan’s strategic realignment, which transitions its two core business units—Eddyfi Technologies and NDT Global—into standalone entities, enabling each to pursue tailored growth strategies and innovation roadmaps. Novacap will maintain its existing investment and ownership in Eddyfi Technologies, along with La Caisse and management. “This is a clear and strategic step that enables NDT Global to focus on its long-term objectives,” said David Lewin, Lead Senior Partner at Novacap. “As an independent organization, NDT Global is better positioned to pursue its operational priorities and create lasting value.”

“We are pleased to support NDT Global as it enters this new phase,” said Samuel Nasso, Partner at Novacap. “With a strong foundation and a highly experienced team, the company is well positioned to grow and contribute to the ongoing evolution of the integrity management sector.”

Martin Thériault, CEO and Chairman, and Paul Cooper, President of NDT Global, both add that “this transaction marks a natural evolution in our journey. Following this strategic realignment, we are confident that NDT Global is ideally positioned to thrive as an independent company. With Novacap and La Caisse’s continued support, and a leadership team deeply committed to innovation and client success, NDT Global is well positioned to accelerate its impact across the integrity management sector.”

Building on favorable industry trends—including aging infrastructure, stricter safety regulations, and growing environmental responsibility—Novacap, will work closely with NDT Global’s leadership to accelerate strategic investments in technological innovation, automation and artificial intelligence, all aimed at delivering greater value through enhanced data analysis.

About NDT Global
NDT Global is the leading provider of in-line diagnostic solutions, integrity management and subsea robotics solutions, offering advanced data insights and services that ensure the safety and longevity of energy-sector infrastructure assets. Recognized as the forerunner in ultrasonic inspection innovations—including Pulse Echo, Pitch-and-Catch, Phased Array, and Acoustic Resonance (ART Scan) technologies — the company continues to push technological advancement and the introduction of revolutionary new inspection technologies, including for gas pipelines, to ensure the safety of its customers’ critical assets. NDT Global employs approximately 880 people. Learn more at www.ndt-global.com.

About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors: Technologies, Industries, Financial Services, and Digital Infrastructure. Novacap combines deep sector-specific expertise with strategic and operational excellence to support entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap continues to drive innovation and growth. For more information, please visit: https://novacapcorp.com.

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Almaviva Signs Agreement to Acquire TIVIT from the Apax Funds to Accelerate Its Digital Expansion in Latin America

Apax
  • The transaction between Almaviva and the Apax Funds will unite two technology leaders in the digital transformation of major companies in Brazil and worldwide.

Almaviva, a leading Italian provider of digital solutions and technological transformation, has taken another bold step in its global trajectory by entering into a definitive agreement to acquire TIVIT, one of Brazil’s largest technology companies with a strong presence across Latin America, from funds advised by Apax Partners LLP (“Apax”).

This union, will create a powerhouse with the ability to accelerate innovation, expand the reach of digital solutions, and drive the growth of companies across multiple sectors in one of the world’s most promising regions. Together, Almaviva and TIVIT will combine complementary technologies and offerings to continue supporting the success of their clients.

TIVIT was acquired by the Apax Funds in 2010. Since then, with the strategy of expanding its presence in new markets, the company carried out several acquisitions, including Synapsis, a leading IT services firm in Latin America, and XMS, a cloud implementation specialist across Latin America. In 2016 and 2022, as part of its strategy to focus on digital solutions, TIVIT spun out two businesses units, Neobpo and Takoda. Following this repositioning, the company strengthened its board and attracted strategic talent in the areas of digital transformation, cybersecurity, cloud solutions, and SAP.

“TIVIT has a solid track record and serves the largest companies in the country. It is recognized for its technical expertise and deep knowledge of local markets. By integrating TIVIT into our ecosystem, we take a significant step forward in consolidating Almaviva as a global leader in digital transformation, with revenue exceeding 12 billion reais.” said Marco Tripi, shareholder and CEO of Almaviva.

Operating in 10 Latin American countries, TIVIT is distinguished by its robust portfolio of cloud solutions, cybersecurity management, digital platforms, and managed services. With Almaviva’s strategic support, the company is now poised to further scale its operations and expand the global impact of its solutions.

“We are entering a new chapter. Almaviva’s arrival opens the door to even greater opportunities for growth and innovation. We are truly excited about what we will build together.” said Paulo Freitas, CEO of TIVIT.

Sectors such as financial services, transportation, manufacturing, utilities, healthcare, and government will directly benefit from the complementarity of the two companies’ portfolios and their new joint delivery capabilities — combining local and international expertise with global scale.

“We are very proud to have been part of TIVIT’s journey, supporting its mission to empower the largest companies in Latin America through technology. Over this period, the Apax Funds have been an active and strategic owner, partnering with management in the spin-off of divisions and in the acquisitions of key businesses to drive growth. It has been a privilege to work with Luiz Mattar, the founder of TIVIT, Paulo Freitas and other members of the leadership team to help TIVIT scale and evolve in this dynamic sector. We expect this new chapter with Almaviva will create a range of opportunities for continued growth.” said Jason Wright, Partner at Apax.

The transaction is subject to regulatory approval. Once completed, it will mark the beginning of a new phase of joint growth between Almaviva and TIVIT, bringing direct benefits to their clients, partners, and teams.

J.P. Morgan acted as the financial advisor to Apax, and Mattos Filho and Skadden acted as legal advisors to Apax and TIVIT in the transaction. Benetti & Giammarino Advogados and L.O. Baptista Advogados acted as the legal advisors to Almaviva.

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Carlyle partners with Rabo Investments to invest in SurePay

Carlyle

Utrecht, Netherlands and London, UK – 3 June 2025 – Carlyle Europe Technology Partners (“CETP”), in partnership with Rabobank’s investment arm Rabo Investments, today announced a strategic growth investment in SurePay, a European leader in payment verification software.

Founded within Rabobank in 2016 and headquartered in the Netherlands, SurePay is a leading provider of payment verification technology solutions to financial institutions and corporates across Europe and the UK. The company reduces fraudulent and misdirected payments through its trusted real-time IBAN-name check, Confirmation-of-Payee (CoP), Verification-of-Payee (VOP), and Fraud Risk Indicator (FRI) products, supporting 200+ banks and 750+ corporate customers. Once implemented, SurePay reduces impersonation scams by 81% and erroneous payments by 67% on average. To date, SurePay has processed more than 10 billion payment checks, playing a critical role in helping clients improve payment accuracy, prevent fraud, address continuously evolving regulatory and compliance demands, and optimise operational efficiencies.

With the backing of Carlyle and Rabo Investments, SurePay plans to further expand its suite of payment verification and fraud prevention solutions and broaden its geographic presence across Europe and beyond, with a continued focus on delivering highly reliable services to its blue-chip customers.

David-Jan Janse, CEO and co-founder of SurePay, said:
“We are thrilled to welcome Carlyle as a strategic partner for the next stage of our journey. The team is grateful to Connected Capital and Iris Capital for their partnership since 2021, and the valuable experience they have brought in scaling B2B SaaS businesses and supporting breakout technology ventures like ours. With Carlyle’s deep experience in financial infrastructure and enterprise software, they are the ideal partner to join Rabobank in supporting our ambition to strengthen our leadership across Europe and the UK, and expand into other international markets. This investment is a major milestone for our team and a strong validation of the platform we have built together with top-tier financial institutions and leading corporates around the world.”

Constantin Boye, who leads the European growth equity efforts within the CETP investment advisory team at Carlyle, said:
“SurePay is a mission-critical payment verification solutions provider with a powerful combination of proven technology and deep relationships across the European and UK banking ecosystem. The team has done an exceptional job building a platform that delivers real, measurable impact in reducing fraud and improving payment accuracy for both financial institutions and corporates. We are excited to partner with Rabo Investments in supporting SurePay as they continue to scale internationally and drive innovation in this increasingly important space.”

Carlyle is investing through its CETP V fund, a €3.2 billion vehicle focused on growth-stage technology businesses across Europe. The CETP team has extensive experience in scaling European financial technology and Governance, Risk and Compliance (GRC) software platforms, with notable investments including FRS Global, ITRS, Calastone, VWD, and Trema.

Floris Onvlee, Director at Rabo Investments, added:
“Since its founding within Rabobank, SurePay has been developed to meet the highest possible financial services quality standards with best-in-class platform reliability, scalability, and security. We believe that this bank-grade heritage, which underpins the many strengths of SurePay’s current offering, has enabled the team to execute with focus, ambition, and credibility to become a European leader in payment verification. Today, their solutions are used by many of the world’s largest financial institutions and corporates, delivering meaningful impact at enterprise scale. After a fruitful partnership with Connected Capital and Iris Capital, we are proud to continue on this growth journey with the SurePay team alongside Carlyle, supporting Rabobank’s corporate venture strategy to build a stronger and more secure financial ecosystem.”

 

About SurePay
SurePay is a leading provider of payment verification technology, headquartered in the Netherlands. The company originally pioneered the IBAN-name check solution in the Dutch market in 2017 and has since expanded across Europe and the UK with its real-time Verification-Of-Payee (VOP), Confirmation-of-Payee (CoP) and Fraud Risk Indicator (FRI) solutions. SurePay serves more than 200 banks and 750 corporate customers and has processed more than 10 billion payment checks to date, playing a critical role in helping clients prevent fraud, improve payment accuracy, and meet continuously evolving compliance and regulatory demands.

 

Media Contacts
Carlyle

Nicholas Brown
nicholas.brown@carlyle.com
+44 7471037002

 

SurePay

Ramon Verweij
ramon@surepay.eu
+31 623833068

 

Rabo Investments

Hugo Nutbey
hugo.nutbey@rabobank.nl
+31 887263463

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Smart Communications Announces Acquisition of Joisto

AKKR Logo

Powerful Cloud Archival Capabilities Expand Smart Communications’ Market-Leading Conversation Cloud™ Platform

London and New York – Smart Communications™, the leading cloud-based platform for enterprise customer communications, today announces it has acquired Joisto, a cloud data archive company. As a result, customers will now have the ability to seamlessly store, manage and retrieve digital records and documents, while meeting the stringent requirements for data retention that govern regulated industries worldwide.

“We’re delighted to incorporate Joisto’s deep expertise in cloud archival into Smart Communications,” said Leigh Segall, CEO of Smart Communications. “Our leading Conversation Cloud Platform already enables our customers to manage sophisticated customer conversations at tremendous scale. With the addition of Joisto, we will extend these capabilities to meet an increasing need for regulatory-compliant and readily accessible storage of these conversations in the cloud. Together we will support customers worldwide as they continue their journey to modernize and transform customer conversations.”

Joisto’s cloud-based archive solution is built to seamlessly connect to a wide range of core solutions across corporate ecosystems using a comprehensive set of APIs. This enables customers to store, manage, and retrieve documents, irrespective of their source. With powerful data-ingestion capabilities and a modern, scalable, cloud architecture, Joisto easily meets customer requirements to store large volumes of documents, while enabling access from any location. Built with industry regulations and retention rules in mind, Joisto supports compliance with GDPR while driving enhanced document integrity, document authorization and user validation.

“Joisto is thrilled to join forces with Smart Communications,” commented Joisto CEO, Tommi Hänninen. “We deeply understand the importance of archival in regulated industries and we are especially proud to partner with an organization that is equally passionate about providing industry-leading capabilities through a modern, cloud-based architecture. The combination of Smart Communications and Joisto represents an exciting step forward for both companies and our customers.”

The acquisition comes alongside a period of sustained, rapid growth for Smart Communications, as the company has consolidated its leadership position in the cloud CCM (Customer Communications Management) and IXM (Interaction Experience Management) sectors and earned recognition for its strength among today’s leading healthcare, financial services, insurance, and government organizations. In addition, analyst firms including IDC, Aspire, Aragon, Datos, and Celent have once again ranked Smart Communications as a strategic leader and highlighted the company’s vision, cloud strategy, and product innovation.

As Smart Communications extends capabilities across the Conversation Cloud with this acquisition, the company will continue to integrate and partner with leading platform vendors worldwide to make ongoing customer conversations – and archival – seamless for the enterprises we serve.

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Audax Private Equity and Lovell Minnick Partners Make Strategic Investment in Fortis

Audax Group

LMP, an existing investor in Fortis, is committing new equity into the joint investment to strengthen the company’s market position and technological capabilities.

PLANO, TEXAS; BOSTON, MA; NEW YORK, NY – March 12, 2025 – Audax Private Equity (“Audax”) and Lovell Minnick Partners (“LMP”) today announced a joint investment in Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses. The investment, which closed on March 11, 2025, will enable Fortis to continue seeking to drive innovation and operational excellence, enhance its product and service offerings, accelerate its M&A growth strategy, and scale infrastructure to meet the evolving needs of businesses. Terms of the investment were not disclosed.

Founded in 2010 and based in Plano, Texas, Fortis has distinguished itself in embedded payments, delivering payment-enablement solutions to software partners, developers, and their businesses. Through its proprietary and integrated platform, Fortis bolsters the software capabilities of its clients via secure, end-to-end payment solutions with the aim of facilitating a reliable and seamless omnichannel-payment experience for businesses, processing billions of dollars in payments annually. LMP made its initial investment in Fortis in December 2019, and since then, the company has expanded its reach across the B2B enterprise and software ecosystem, providing tailored payment solutions that can drive efficiency and improved customer and business experiences.

“When we first invested in Fortis in 2019, we were drawn to the founders’ vision and the strength and capabilities of the company’s technology,” said Trevor Rich, Partner at LMP. “We’re pleased to offer both financial and operational support to advance the company’s mission of offering an unparalleled, holistic commerce experience to its customers.”

“The management team, led by CEO Greg Cohen and Co-Founder Jimmy Nafso, have positioned Fortis as a leader in the embedded payments industry,” said Spencer Hurst, Principal at LMP. “We’re looking forward to continuing to support the company as they build on this momentum and partnering with the Audax team to shape the future of embedded commerce.”

“Fortis’ ability to simplify very complex, multi-channel payment environments through a single integration point represents an integral link in the payments value chain,” noted Tim Mack, Partner at Audax Private Equity. “In our opinion, the Fortis API unlocks omnichannel strategies for businesses and unifies all transaction data to create a single ‘source of truth’ – a powerful value proposition that differentiates Fortis’ software partners, merchants who leverage the technology, and the company itself.”

Since LMP’s investment in 2019, Fortis has completed over 10 acquisitions that collectively have enhanced the company’s integration capabilities and its vertical specialization. Greg Cohen, who was appointed as executive chairman parallel to LMP’s initial investment, has served as CEO since July 2021.

“We’re excited to invest alongside LMP and support an exceptional management team that has built a scaled and differentiated player in the integrated-payments processing space,” added William Allen, a Managing Director at Audax. “Given the company’s track record driving organic and inorganic growth, we believe Fortis represents a compelling fit for our Buy & Build approach.”

“The payments market is undergoing a fundamental transformation, with software platforms needing sophisticated payment capabilities that go far beyond basic processing,” said Greg Cohen, CEO of Fortis. “Our philosophy around a sound business model, management team, and capital structure is critical as our organization and the market continues to mature. LMP has been a tremendous partner over the past five years who intimately understands the financial services and payments landscape. The addition of Audax adds financial strength, market expertise, and deep operational resources to accelerate our product roadmap, pursue strategic acquisitions, and expand our global footprint.”

William Blair served as Fortis’ sell-side advisor, while Morgan Lewis served as legal counsel. Raymond James served as the buy-side advisor to Audax Private Equity, while Kirkland & Ellis provided legal counsel to both Audax Private Equity and LMP.

About

ABOUT FORTIS
Fortis is a leader in embedded payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

ABOUT AUDAX PRIVATE EQUITY
Headquartered in Boston, with offices in San Francisco, New York, and London, Audax Private Equity manages three strategies: its Flagship and Origins private equity strategies, seeking control buyouts in the core middle and lower middle markets, respectively, and its Strategic Capital strategy that provides customized equity solutions to PE-backed portfolio companies to help drive continued growth. With approximately $19 billion of assets under management as of June 2024, over 280 employees, and 100-plus investment professionals, Audax has invested in more than 170 platforms and 1,350 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax seeks to help portfolio companies execute organic and inorganic growth initiatives with the aim of fueling revenue expansion, optimizing operations, and significantly increasing equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.

ABOUT LOVELL MINNICK PARTNERS
Lovell Minnick Partners is a private equity firm with a 25-year track record of partnering with growth-oriented companies. LMP leverages deep sector experience and a broad network of strategic advisors to help founders scale their companies at an accelerated pace. The firm collaborates with management teams seeking to achieve long-term success and value creation through organic growth and strategic acquisitions. Since inception in 1999, LMP has raised over $5 billion of committed capital, invested in more than 50 unique platform companies and completed over 200 add-on acquisitions. LMP targets growth-oriented, middle-market companies with a particular focus on companies in the financial services, business services and financial technology sectors. For more information, please visit www.lmpartners.com.

“Fortis’ ability to simplify very complex, multi-channel payment environments through a single integration point represents an integral link in the payments value chain. In our opinion, the Fortis API unlocks omnichannel strategies for businesses and unifies all transaction data to create a single ‘source of truth’ – a powerful value proposition that differentiates Fortis’ software partners, merchants who leverage the technology, and the company itself.”
Tim Mack
Partner at Audax Private Equity.

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Tyto Athene, an Arlington Capital Partners Portfolio Company, Acquires stackArmor Inc. to Expand Cyber Compliance and Cloud Capabilities for Government Customers

Strategic acquisition fuels Tyto’s accelerated growth in Federal IT and Cybersecurity Services

RESTON, Va. – May 8, 2025 – Tyto Athene, LLC (“Tyto”), a federal systems integrator of mission-focused digital transformation solutions, and portfolio company of Arlington Capital Partners (“Arlington”), has completed its acquisition of stackArmor, Inc., a premier provider of FedRAMP, FISMA/RMF and CMMC/DFARS compliance acceleration, cloud and security automation solutions for government agencies and the industrial base.

“The acquisition of stackArmor represents a significant milestone in Tyto’s growth strategy,” said Dennis Kelly, Chief Executive Officer of Tyto. “stackArmor’s innovative cyber, compliance and cloud automation solutions will immediately enhance our ability to support critical missions across defense, national security and public safety sectors. We’re excited to welcome co-founders Gaurav ‘GP’ Pal and Fawad Siraj and the entire stackArmor team to the Tyto family as we work together to help our customers achieve mission success.”

Tyto connects government and defense leaders with technologies to seamlessly integrate and modernize enterprise-level operations, increasing mission resiliency, capability and flexibility for U.S. agencies around the globe. As a wholly-owned subsidiary, stackArmor will provide Tyto with industry-leading cloud strategy, migration and cloud managed services for regulated industries in compliance with FedRAMP, FISMA, CMMC, HIPAA, StateRAMP, CJIS and NIST standards. stackArmor will also provide its cyber automation and continuous monitoring solutions, ThreatAlert ® Security Platform and Continuous ATO (cATO), to further bolster Tyto’s cyber support for government partners.

“By combining the capabilities of Tyto and stackArmor, we’re able to deliver secure and cost-efficient digital infrastructure that accelerates the mission of our government and defense customers through automation,” said Gaurav “GP” Pal, Principal of stackArmor. “We share a deep commitment to public sector innovation, and we look forward to joining the Tyto family to propel business growth and operational excellence.”

Since 2016, stackArmor has been a global trusted provider of compliance-based cloud solutions for the public sector. The Company’s trademarked ATO for AI™ and ThreatAlert® Security platforms have helped agencies across defense, space and healthcare markets reduce the time and cost of an ATO by 40%. Ranked #26 in the Top 100 Cloud Managed Services Providers, stackArmor will strengthen Tyto’s delivery of scalable cloud and compliance-driven solutions across the federal and defense landscape.

“The acquisition of stackArmor complements Tyto’s acquisitions of MindPoint Group and Microtel, underscoring our commitment to building a differentiated portfolio of mission-enabling technologies and services,” said Michael Lustbader, a Managing Partner at Arlington Capital Partners. “Their expertise in automation and cloud enhance Tyto’s position in delivering secure, compliant cloud solutions and support Tyto’s development into a premier end-to-end digital transformation partner for the Federal government.”

 

About Tyto Athene

Tyto Athene delivers secure, mission-critical technology solutions that empower defense, intelligence, and civilian agencies to modernize infrastructure, strengthen cybersecurity, and stay ahead of evolving threats. As a mission-driven integrator, we combine deep technical expertise with a hands-on, collaborative approach to ensure agencies have the tools needed for operational success. From network modernization to cyber defense, we help organizations turn data into actionable insights, enabling information dominance and greater mission effectiveness. Our commitment to innovation and customer success drives us to deliver solutions that enhance security, resilience, and communications across the government landscape. Headquartered in Reston, VA, Tyto has eleven offices in the U.S. and Europe. For more information, visit https://gotyto.com/ or follow Tyto on LinkedIn.

 

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 government services and technology, aerospace and defense, and healthcare 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 https://arlingtoncap.com/.

 

Contacts

Arlington Capital Partners

Ryan Fitzgibbons

Pro-arlington@prosek.com

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Livelink Raises €2.4 Million to Accelerate Growth and Expand Across Europe

Axon

Spanish startup Livelink, a pioneer in IoT-driven safety and connectivity solutions for motorcyclists, has closed a €2.4 million funding round. This new capital will enable the company to strengthen its leadership in the Spanish fleet management market with KOMOBI HD Fleet, while expanding its life-saving impact across Europe through KOMOBI, a GPS tracker with anti-theft features and automatic crash detection.

The round was led by private investors and included participation from Axon Partners Group, via the Axon Desarrollo Andalucía Fund, supported by the FEDER-ANDALUCÍA 2021-2027 Program and the Government of Andalusia. The funds will enhance Livelink’s automatic accident detection service across Europe, scale operations in Italy, and reinforce its position as the go-to platform for comprehensive vehicle fleet management.

At Axon, we back companies with a strong social and technological mission. Livelink is a powerful example of how innovation can save lives and transform entire industries, which is why we’re proud to support them in this growth phase,` said Macarena Gonzalez, Investment Manager at Axon Partners Group

Founded in 2018 by Jesús Carnerero, Beatriz Martín, and Fernando Olea, Livelink has developed proprietary technology tailored to the motorcycle ecosystem. With over 50,000 users across Europe, KOMOBI has become the go-to system for private riders, major brands like Yamaha and Kymco (who offer it through their models and dealer networks), and last-mile delivery companies like Cooltra and Mundimoto, who use KOMOBI HD Fleet to manage their vehicle fleets efficiently and safely.

We’re proud to be entering a stage of technological consolidation after more than eight years of hard work. We believe the time is right to revolutionise the two-wheeled mobility sector across Europe,´ said Jesús Carnerero, CEO and co-founder. `We also want to honour the memory of JFV, who is forever part of this project.

Livelink’s mission extends far beyond fleet management. Launched initially as an anti-theft GPS tracker, KOMOBI has evolved into an advanced active safety system. Its crash detection and automatic emergency alert capabilities have significantly reduced emergency response times, helping save lives

 

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Liftoff Announces Minority Growth Equity Investment from General Atlantic at $4.3 Billion Valuation

Blackstone

Partnership underscores Liftoff’s industry leadership as an AI-enabled growth platform for the mobile app economy

REDWOOD CITY, Calif. – May 5, 2025 – Liftoff, a global leader in performance marketing and monetization solutions for the app economy, today announced that private equity funds managed by Blackstone (“Blackstone”) signed an agreement to sell a minority stake in Liftoff to General Atlantic, a leading global investor. As part of the terms of the transaction, long-time investor Blackstone will remain as the majority shareholder.

Liftoff is a leading AI-enabled end-to-end platform that enables mobile developers to build, drive discovery of, and monetize their apps. Blackstone drove the formation of the company from the transformative merger of its portfolio companies Liftoff and Vungle in 2021, which combined two scaled and highly complementary industry leaders. Following the merger, Liftoff has grown rapidly under CEO Jeremy Bondy and the current management team through an expanded portfolio of solutions and industry-leading product and technical innovation.

General Atlantic has a long history of investing in disruptive consumer technology businesses. General Atlantic will join Blackstone in supporting Liftoff’s next phase of growth as it scales its proprietary Cortex AI platform, builds on its leadership across the broader app economy, and looks to add capabilities through strategic M&A.

Jeremy Bondy, CEO of Liftoff, said: “This moment represents a potent combination of continuity and ambition. Our partnership with Blackstone has been transformative – over the past three years, we’ve merged Liftoff and Vungle, launched Cortex, and delivered significant momentum. The investment from General Atlantic is a testament to that progress, marking the next phase of our ascent and reinforcing our leadership across performance-driven mobile growth. While I’m proud of what we’ve accomplished, we’re still in the early innings of growth in a large and rapidly evolving category, with a team built for this moment and the rare opportunity to shape its future. We look forward to building the leading platform for the largest and fastest growing media environment in the world: the mobile phone.”

Tanzeen Syed, Managing Director and Head of Consumer Internet and Technology at General Atlantic, said: “We are thrilled to partner with Jeremy and his management team to help fulfill Liftoff’s vision of serving the mobile app ecosystem and continuing to power growth through its combination of innovative AI technology, superior execution, and unwavering customer centricity. Liftoff has reached an exciting business inflection point, and we look forward to providing support alongside Blackstone, who have shepherded the Company through a transformative period.”

Sachin Bavishi, Senior Managing Director at Blackstone, said: “It has been a pleasure to work alongside Jeremy and the entire management team over the past five years through Liftoff’s evolution into a leading mobile app growth platform. This investment is a prime example of Blackstone’s approach to partnering with highly talented management teams and deeply supporting them with value-added resources and expertise to drive material business transformation and outsized results for all stakeholders. We are thrilled to continue this journey with Liftoff and welcome General Atlantic as a new investor as we jointly support the company’s rapid growth trajectory.”

Goldman Sachs & Co. LLC and Jefferies LLC are serving as financial advisors and Simpson Thacher & Bartlett LLP is acting as legal advisor to Liftoff and Blackstone. Morgan Stanley & Co. LLC is serving as financial advisor and Paul Weiss is serving as legal advisor to General Atlantic. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in mid-2025.

About Liftoff
Liftoff helps mobile businesses maximize their revenue. It provides machine learning-powered marketing, monetization, and creative solutions that create better ad experiences and connect people with the products they love. Founded in 2012 and headquartered in Redwood City, CA, Liftoff has a diverse, global presence.

About General Atlantic
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Climate, and Sustainable Infrastructure strategies. General Atlantic manages approximately $108 billion in assets under management, inclusive of all strategies, as of March 31, 2025, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit: www.generalatlantic.com.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s nearly $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
 
Media Contacts

Liftoff
Casie A. Jordan
cjordan@liftoff.io
732-614-3880

General Atlantic
Emily Japlon & Sara Widmann
media@generalatlantic.com

Blackstone
Matthew Anderson
matthew.anderson@blackstone.com
518-248-7310

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Ivanti Announces Successful Refinancing and New Capital Infusion to Support Key Strategic Initiatives

Clearlake

Optimized Capital Structure Bolsters Ability to Invest Across Full Spectrum of IT, Network Security, and Exposure Management to Empower Customers’ Business Goals

May 2, 2025 — SALT LAKE CITY — Ivanti, the enterprise software company that provides a comprehensive IT and security cloud-based platform, announced today that it has successfully closed a refinancing transaction. This was achieved with the support of an overwhelming majority of its existing lenders.

As part of this transaction, Ivanti raised $350 million of new capital and extended the maturity of its existing debt facilities to 2029, bolstering its liquidity position and financial flexibility to support the Company’s key strategic initiatives. The transaction was open to all holders of its existing first lien and second lien term loans.

“We greatly appreciate the broad-based support from investors across our capital structure to reach this positive outcome, demonstrating their continued confidence in our business,” said Dennis Kozak, CEO of Ivanti. “With additional capital and extended debt maturities, we believe that we are well positioned to progress our ongoing transformation, provide customers with improved capabilities and security, and deliver long-term success.”

Over the past year, Ivanti has made substantial advancements to its products and processes, and the Company’s strengthened financial foundation is expected to enhance its ability to invest across its solutions to empower customers’ business goals and provide seamless, flexible solutions that are built to address the evolving threat landscape. Ivanti is backed by Clearlake Capital Group, L.P., Charlesbank Capital Partners, LLC, and TA Associates Kirkland & Ellis LLP and Evercore Group LLC are serving as legal and financial advisors to Ivanti.

About Ivanti Ivanti is an enterprise software company that provides a comprehensive IT and security cloudbased platform. Ivanti provides software solutions that scale with our customers’ needs to help enable IT and Security to improve operational efficiency while reducing costs and proactively reducing security risk. The Ivanti Neurons platform is cloud-native and is designed as a foundation of unified and reusable services and tools for consistent visibility, scalability and secure solution delivery. Over 34,000 customers, including 85 of the Fortune 100, have chosen Ivanti to meet challenges head-on with its end-to-end solutions. At Ivanti, we strive to create an environment where all perspectives are heard, respected and valued and we are committed to a more sustainable future for our customers, partners, employees and the planet. For more information, visit www.ivanti.com and follow @GoIvanti.

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