Norwegian venture capital and private equity firm Verdane Capital has exited its investment in software-as-a-service business KSD Software Norway.
The company was sold to The Descartes Systems Group for NOK190m ($32.8m).
Verdane was the largest shareholder in the business with a 43 per cent stake.
Verdane Capital Adviors’ senior associate Arne Simensen said, “The transaction will open KSD’s software platform to a large new customer base, and at the same time, strengthen KSD’s offering to existing customers. KSD and Descartes are a good strategic fit.
“KSD has developed a fantastic software suite, and we are pleased to have been able to help the company find a new home within a large global organisation where it can reach its full potential.”
Copyright © 2013 AltAssets