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Hg to Buy Stake in EQT’s $10 Billion Cloud Software Arm

  • TA Associates will sell part of stake in IFS and WorkWave
  • Private equity firms have been clamoring over SaaS providers
Updated on

Hg has agreed to buy a stake in a group of cloud software providers owned by EQT AB, in a deal valuing the operations at $10 billion.

Under the terms of the transaction, EQT will sell a large part of its holdings in IFS and WorkWave to Hg, the private equity firms said in a statement Wednesday that confirmed an earlier Bloomberg News report