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AXA Private Equity backs Arkadin’s purchase of Novasight

27 Nov 2012

AXA Private Equity has backed communications company Arkadin’s bolt-on acquisition of video conferencing company Novasight.

AXA Private Equity took a 45 per cent stake in Arkadin in July of this year.

Arkadin, which has 1,000 employees in 31 countries, is expected to achieve a turnover of €185m in 2012 – an increase of 45 per cent on last year – and aims to double the turnover of its video business in 2013.

AXA PE said it would look to help the management team integrate Novasight’s skills, while continuing to provide experience and geographical reach.

Francois Jerphagnon, managing director of small market enterprise capital at AXA PE, said, “The acquisition of Novasight represents an important stage in Arkadin’s growth, reinforcing its presence in the high growing market of video conferencing services.

“Novasight’s expertise strengthens the distinctive positioning of Arkadin compared to its competitors.”

Arkadin, founded and headed by Olivier de Puymorin, has become the third largest independent collaboration service operator worldwide.

AXA PE’s investment saw the exit of investors including Apax Partners, Altamir Amboise, Innovation Capital and UFG-Siparex, which supported Arkadin during the first stage of its development.

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