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Apax, KKR in talks to buy business software company Exact Holding

11 Jul 2014

DIGITAL CAMERASeveral private equity firms are reportedly in talks to buy Dutch business software company Exact Holding, which could be valued at around €1bn.

These private equity firms include Apax and KKR, while EQT and Hellman & Friedman have dropped out of the process after showing interest, several sources told Reuters.

Rothschild has been hired to manage the sale of the Euronext-listed company, which currently has a market cap of €617m.

“Private equity interest around Exact has been mounting since (sector peer) UNIT4 was snapped by Advent,” said one of the people.

Advent bought UNIT4 for €1.17bn in cash in November last year, which represented a 54.8 per cent premium compared to the average closing share price in the 12 months prior to that date.

One of Exact’s suitors, Apax Partners, sold Advantage Sales & Marketing to peers CVC Capital and Leonard Green & Partners for more than $4bn.

AltAssets reported that the deal generated a return of four times for the firm.

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