Sweden’s EQT confirms €220m deal for Austrian UC4

Swedish private equity firm EQT Partners AB announced today that its EQT VI fund had signed a deal to buy Austrian IT process automation software vendor UC4 Software GmbH from a unit of The Carlyle Group LP (NASDAQ:CG).

EQT will acquire the company from Carlyle Europe Technology Partners, UC4’s founder Franz Beranek and its management team for an enterprise value of EUR220m (USD270.4m). The sealing of the deal was reported earlier by the Financial Times, which quoted insiders.

The transaction is pending clearance from certain authorities and is scheduled for completion in the fourth quarter of the year. As part of the deal, UC4’s management will reinvest in the business alongside EQT IV.

According to Per Franzen, EQT partner in Germany, the business being acquired will have a new supervisory board comprising a mix of EQT industrial advisors who will back UC4’s management in further expanding into the cloud automation market.

Wolfsgraben-based UC4 offers IT process automation through its One Automation platform, which assists organisations in managing IT landscapes. The company has a client base that includes around 2,050 blue chip customers and generated revenues of EUR62m in the fiscal year to April 2012. It has additional headquarters in Bellevue, the US.

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