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EQT-backed Automic acquires ORSYP

2 May 2014

software binary code computerEQT Partners’ portfolio company Automic has agreed to buy IT automation and optimisation software provider ORSYP SAS from Argos Soditic.

Paris-based ORSYP’s software automates and optimises the performance of business systems.

Automic currently provides its business automation software to more than 2,000 businesses in various sectors including financial services, retail, telecoms and utilities.

EQT bought Automic, which was known as UC4 at the time, from fellow private equity fimr Carlyle in August 2012.

In the meantime, EQT is reportedly planning an IPO for Nordic hotelier Scandic, which could be valued at more than €1bn.

Scandic posted an EBITDA of €80m on revenues of €913m last year.

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