Cinven in Exclusive Talks for Data Services Firm Artefact

Private equity firm Cinven is in exclusive negotiations to acquire Artefact, a provider of data and artificial intelligence consulting services.

The transaction is subject to regulatory approvals, according to a statement on Monday that confirmed an earlier Bloomberg News report. The deal values the French company at more than €1 billion ($1.2 billion), Artefact’s majority owner Ardian said in a separate statement.