Public sector software giant Civica Group has just been bought by private equity outfit Partners Group in a deal worth about a billion dollars.
The firm provides business critical software and outsourcing services, and will be handed over by OMERS Private Equity which acquired it in 2013.
Civica Services, the volume licensing arm of Civica, was an important VAR resellerwith a revenue of £27.8 million.
The company hires 3,700 people with 75 percent based in the UK. Partners Group claimed it will support the existing Civica management team and its ongoing strategy.
Bilge Ogut, managing director, private equity Europe at Partners Group said his outfit was impressed with Civica’s long-term growth record. It wanted to back a high-quality market leader in a sector with evolving customer needs and the potential to increase scale through select acquisitions.
Wayne Story, chief executive of Civica, claimed that the acquisition is a “very positive development” to support its ongoing strategy.
“Under the ownership of Partners Group, it will be an enhanced version of business as normal led by the existing management team, and we remain committed to our strategy and to the long-term development of Civica”, added Story.
