ALSOENERGY acquired by STEM

IK Partners acquired a majority stake in Sofia Developpement from Extens, Bpifrance, and Capital Croissance. The investment aimed to accelerate the group's transition to a full SaaS model and support a build-up strategy to consolidate the fragmented healthcare software market in France.

US-based growth equity firm Providence Strategic Growth (PSG) has entered into an agreement to acquire a stake in Sellsy, a French provider of all-in-one Customer Relationship Management (CRM) and Financial Management System (FMS) software for SMEs. As part of this transaction, Sellsy is raising €55 million from the fund, which is also buying out historical minority shareholders, including investors from the previous funding round in late 2017. Following this equity restructuring, the management team (led by co-founders Alain Mevellec and Frédéric Coulais, alongside Co-CEO Victor Douek) will retain its majority ownership and continue to spearhead the company's development. For Sellsy, this partnership is designed to accelerate its growth, solidify its position in the French market, and drive its European expansion, with the ultimate goal of reaching the €100 million revenue milestone.

Private equity firm Clearlake Capital Group has entered into a definitive agreement to acquire the California-based talent management software provider Cornerstone OnDemand. Unanimously approved by the target's Board of Directors, the transaction will result in the company becoming privately held, officially delisting its shares from public markets. As part of this take-private buyout, technology-focused sponsor Vector Capital will also execute a strategic minority equity investment at closing. The sell-side process was managed by financial advisors Qatalyst Partners and Centerview Partners, while the acquirer was supported by a broad banking syndicate that included Morgan Stanley, Rothschild & Co., J.P. Morgan, and Goldman Sachs. Transitioning to a privately held structure will provide Cornerstone with enhanced strategic agility and the capital backing required to expand its market-leading HR SaaS capabilities. Clearlake intends to leverage its proprietary O.P.S.® operational framework to partner with management, accelerating organic execution while simultaneously positioning the company as an aggressive industry consolidator through inorganic transformation. The involvement of Vector Capital (who held deep historical ties to the platform through its prior ownership of Saba Software) adds significant domain expertise to support Cornerstone's evolution into the pre-eminent next-generation talent management ecosystem.

Spectris plc has finalized the acquisition of Concurrent Real-Time from the private equity firm Battery Ventures, a maneuver designed to fundamentally strengthen the group’s Hottinger Brüel & Kjær (HBK) platform. The strategic rationale for this transaction centers on a "simulation-convergence" play, merging the target's technical operational depth in hard-real-time computing with the group’s established leadership in physical sensing and simulation software. This fusion effectively creates a specialized Virtual Test Division, providing the organization with the hardware-in-the-loop (HiL) capabilities required to virtually test products throughout the entire development cycle. This operation allows the group to execute a definitive structural expansion into the high-growth simulation market, complementing its existing specialized assets such as VI-grade. By incorporating the target's deterministic operating systems and high-performance hardware, the organization can now provide a more robust and integrated solution set for "Zero Prototypes" vehicle development. The maneuver optimizes the group's financial profile by adding a high-margin, profitable technology brand that serves as a critical enabler of faster product life cycles. Ultimately, the partnership solidifies the group’s standing as a primary enabler of virtual testing innovation, bridging the gap between sophisticated laboratory-grade simulation and industrialized hardware testing standards.

Unisys has entered into a definitive agreement to acquire Unify Square for a total consideration of $152.5 million, structured on a cash-free, debt-free basis and funded entirely through cash on hand. This transaction represents a highly strategic platform investment designed to directly integrate Unify Square’s specialized Unified Communications as a Service (UCaaS) offerings into the acquirer’s broader digital workplace services portfolio. The strategic rationale underpinning this acquisition is deeply rooted in the rapid evolution of hybrid workforce dynamics and the increasing enterprise necessity for seamless, secure collaboration. By absorbing Unify Square, the acquirer aims to significantly accelerate digital workplace transformation journeys for its clients, allowing them to transition smoothly from legacy on-premise communications to modern, cloud-based applications with minimal operational disruption. Furthermore, the integration brings critical real-time analytics and robust governance frameworks in-house, enabling the combined entity to proactively assess employee experience while simultaneously ensuring compliance across multiple communication platforms.

The investment by Investindustrial in Targa Telematics is a strategic move to support the growth and internationalization of the Italian smart mobility leader. The deal will enable Targa Telematics to strengthen its leadership position in Italy and become a leading company in the smart mobility, fleet management, and insurtech sectors at the European and global level. The transaction will also allow Targa Telematics to further consolidate its existing partnerships with long-standing customers and create new client opportunities. The investment by Investindustrial is a testament to the company's commitment to supporting innovative and forward-thinking businesses. The deal is expected to have a positive impact on the smart mobility sector, as Targa Telematics continues to innovate and expand its offerings. With the support of Investindustrial, Targa Telematics is well-positioned to capitalize on the growing demand for smart mobility solutions and to become a major player in the global market. The investment will also enable Targa Telematics to accelerate its innovation process and to develop new solutions that meet the evolving needs of its clients. Overall, the deal is a strategic move that will support the long-term growth and success of Targa Telematics.

LINK Mobility acquired Message Broadcast to establish a significant foothold in the United States, positioning itself to capture growth in a fragmented and fast-paced market. The acquisition is designed to integrate a proprietary, high-margin communication platform into the Group's global ecosystem, significantly contributing to organic growth and overall profitability. By onboarding a management team with extensive industry experience, the Group aims to leverage existing relationships with blue-chip enterprise clients in sectors such as utilities and healthcare, where mission-critical communication is a non-negotiable requirement. This transaction is a central component of the Group's strategy to expand its product offerings and geographic footprint while maintaining its focus on scalability and innovation. The combined organization benefits from enhanced cross-selling opportunities and a broader, more diversified customer portfolio, accelerating the Group’s ambition to become the leading provider of B2C mobile messaging solutions in the North American market.

Fragbite Group entered into a definitive agreement to acquire 100% of Playdigious to spearhead its expansion into the indie publishing sector. The transaction was structured with an upfront payment and several earn-out tranches totaling €3.5 million payable through 2023 to align future performance. This strategic move allowed Fragbite to internalize "cutting-edge" porting expertise and establish a new revenue stream within the premium mobile gaming segment, while the founders remained at the helm to lead the group’s new publishing division.

Abenex acquired a majority stake in EDL from its founders. This primary LBO aimed to professionalize the group's governance, provide it with the financial resources necessary to implement a buy-and-build strategy, and finally to transform the company from its position as a leader in France into a major European platform.

Alfa Laval has completed the 100% acquisition of StormGeo, a global provider of weather intelligence and decision support services, from owners including EQT and DNV GL. The transaction was structured as a cash-funded purchase, fully integrated into Alfa Laval’s Marine Division. The acquisition serves as a key pillar in Alfa Laval’s "decarbonization toolbox," designed to accelerate the company’s digital transformation. By acquiring StormGeo, Alfa Laval integrates high-end weather-based routing and analytics into its marine offering, providing an immediate upgrade to fleet performance and fuel efficiency for its customers. The move broadens Alfa Laval’s service scope, shifting from pure equipment-based hardware solutions to integrated, data-driven digital services that enhance the operational sustainability of its installed base. This deal represents a strategic benchmark for industrial conglomerates aiming to pivot toward "Industrial IoT" (IIoT) services. It highlights the growing importance of proprietary data platforms in traditional maritime hardware markets, signaling a trend where industrial equipment providers are acquiring specialized software companies to offer comprehensive efficiency solutions in response to global environmental regulatory tightening.