Deals

CPPIB Invests €550 Million for 20% Stake in Hg’s Team.blue

Stake purchase values the technology group at €4.8 billion
Hg remains as largest single investor, will provide more funds

Jonas Dhaenens, left, and Ali Niknam, Team.blue’s founder and co-founder, will remain as cornerstone investors. — Jonas Dhaenens, left, and Ali Niknam, Team.blue’s founder and co-founder, will remain as cornerstone investors.
Source: Team.blue

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By Swetha Gopinath

July 10, 2024 at 4:00 AM UTC

Updated on

July 10, 2024 at 7:27 AM UTC

This article is for subscribers only.

Canada’s biggest pension fund is buying a 20% stake in Team.blue from investment firm Hg in a deal valuing the technology group at €4.8 billion ($5.2 billion).

Canada Pension Plan Investment Board will pay about €550 million for the stake, while Hg remains the largest single investor and plans to provide further funds for Team.blue’s growth, according to a statement on Wednesday, confirming an earlier Bloomberg News report.