Linklaters advises on the largest ever software buy-out

Linklaters has advised the selling investors, including Hg’s Genesis 7 Fund and Montagu, on the sale of a stake in leading software company Visma to a consortium of investors led by Hg’s Saturn 2 Fund. The investment consortium also includes Warburg Pincus, TPG and CPPIB. The transaction values the business at US$12.2bn and is the largest ever buy-out of a software company.

Visma is the largest provider of cloud-delivered software to European businesses with over 11,000 employees, including 4,000 software developers who serve over one million business customers across the Nordic, Benelux and Baltic regions.

The Linklaters team was led by Alex Woodward (partner) and Peter McCabe (managing associate), and also included Ben Rodham (partner), Daniel Gendron (partner), John Livesey (managing associate) and Rita Teo (associate).

It is the latest in a series of high-profile private equity deals that the firm has advised on. Earlier this year, Linklaters advised ThyssenKrupp on the sale of its elevator technology business to a consortium of bidders led by Advent, Cinven and RAG Foundation at a purchase price of €17.2 billion.