Cinven Leads Bidding for French Data Services Firm Artefact

Cinven is nearing an acquisition of Artefact in a deal that could value the French data services company at about €1 billion ($1.2 billion), people familiar with the matter said.

The private equity firm is putting the finishing touches on a purchase of the Ardian-backed business after beating out rival buyout shops, according to the people, who asked not to be identified discussing confidential information.