Blackstone To Acquire UK Software Developer Civica

Blackstone To Acquire UK Software Developer Civica

Blackstone, the world's largest alternative asset manager, has announced its acquisition of Civica, a leading provider of public sector software solutions, from Swiss private equity firm Partners Group. This significant move in the GovTech sector underscores Blackstone's commitment to the software industry and marks a new chapter in Civica's growth.

Transaction Snapshot

  • Deal Value: Approximately $2.5 billion (as reported by The Wall Street Journal).
  • Deal Type: Acquisition.
  • Deal Date: Expected to close in Q2 2024.
  • Investors: Blackstone.
  • Founders: N/A.

Civica, founded in 2001, has established itself as a key player in the UK's software industry, focusing on the public sector. The company offers a wide range of services including workflow and automation, risk and compliance, workforce management, financial management, and data analytics. Its customer base exceeds 6,000, serving over 100 million people across various countries.

The acquisition of Civica by Blackstone, with over $1 trillion in assets under management (AUM), represents a strategic expansion in the GovTech space. Blackstone's Managing Director, Jonathan Murphy, and Principal, Miguel García Gómez, expressed enthusiasm for partnering with Civica's management team in this growth phase. Lee Perkins, CEO of Civica, highlighted the company's transformation and innovation in cloud, digital enablement, software innovation, and data analytics under Partners Group's ownership.

This transaction, pending regulatory approvals, was advised by Barclays and DC Advisory for Blackstone, while Clifford Chance and Arma Partners advised Partners Group. Civica and its management received advice from Travers Smith and Wyvern Partners.

In addition to this acquisition, Blackstone and Permira have reportedly submitted a €14 billion bid for Norwegian online classifieds platform Adevinta, indicating Blackstone's active investment strategy in Europe.

The acquisition not only marks a significant investment by Blackstone in the software sector but also represents a vote of confidence in Civica's potential as a global GovTech leader. With a history of over 21 years of growth and a series of strategic acquisitions, Civica is poised for continued success in the global market.

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