Cegid, in Spain Cegid Meta4, and Grupo Primavera reach an agreement through the exchange of shares to create a powerful provider of business management software in Iberia. Also helping the international expansion of Cegid and increasing the joint value of both companies by approximately 6,800 million euros.
The operation will culminate in the third quarter of 2022 and will unite, on the one hand, Cegid, a global provider of business management solutions in the cloud for finance, human resources, accounting, retail, entrepreneurs and small businesses, and Grupo Primavera, a software platform for business management in the cloud leader in the Iberian Peninsula.
Silver Lakeworld leader in technology investment, will continue to be the majority shareholder of the resulting company. While Oakley Capital, creator of the Primavera Group through a series of twelve acquisitions and its majority shareholder, will join KKR and AltaOne as minority shareholders of Cegid. The CEO of Cegid, Pascal Houillon, the CEO of Grupo Primavera, Santiago Solanas, and the rest of the management team will also be associated in the next phase of growth.
Over the last few years, Cegid has increased its role as business solutions provider, not only in the tax or retail sector. Also in human resources with the acquisition of Meta4 and VisualTime.
For its part, Grupo Primavera began a strong strategy of acquisitions and integrations in 2019, including the fundamental purchase of Primavera BSS in 2021. With this, it managed to become the largest Iberian cloud-based management software platform. Grupo Primavera currently has 800 employees spread over 5 countries and provides service to 165,000 paying customers.
Grupo Primavera also offers a range of cloud-based software solutions that cover the management of billing, accounting, and enterprise resource planning (ERP) software for freelancers, micro, small and medium-sized companies in Spain, Portugal and Africa, with a strong presence in the professional law firm sector.
“Like Cegid, Grupo Primavera offers useful and innovative cloud solutions to partners and customers, and has achieved impressive growth. We share an inspiring vision of the future fueled by continuous product and technology innovation, and Cegid is fully committed to investing in the continued growth of the resulting company,” commented Pascal Houillon, CEO of Cegid.
Meanwhile, from Grupo Primavera, its CEO Santiago Solanas has stated, “se is a powerful union that will allow us to combine resources and experience, bringing customers new products and continuous innovation, and enhancing our proven track record of expanding and integrating new talent and new approaches to market needs.”