OAKLEY CAPITAL INVESTMENTS takes majority stake in XTEL

Publicis Groupe has entered into a definitive agreement to acquire 100% of the share capital of US-based LiveRamp through an all-cash public tender offer. This landmark cross-border transaction represents Publicis' largest tech-driven acquisition since Epsilon, explicitly engineered to accelerate the group's digital capabilities in secure data co-creation, advanced data clean rooms, and agentic AI enterprise transformation. By internalizing LiveRamp's interoperable data collaboration platform and network, Publicis aims to combine these assets with its legacy data powerhouse Epsilon, its digital business transformation engine Publicis Sapient, and its proprietary Marcel platform. This unified ecosystem will empower corporate clients to securely connect fragmented internal and partner data streams, generating unique proprietary intelligence without exposing underlying consumer metrics. Operating within Publicis' high-growth Technology reporting segment, the acquired platform will preserve its foundational data-neutral positioning. This strategic maneuver materially enhances the group's mid-term financial outlook, expanding its served addressable market while driving net revenue and underlying EPS targets across upcoming fiscal years.

Doctolib executed a strategic acquisition of Medicus, a UK-based developer of clinical software for the National Health Service (NHS), marking its official entry into the United Kingdom. This transaction represents a key milestone in Doctolib's European expansion, adding the UK as its fifth operational market alongside France, Germany, Italy, and the Netherlands. The acquisition is driven by a shared mission to address systemic challenges within healthcare, particularly the increasing demand for care and the significant administrative burden placed on medical professionals. By integrating Medicus, Doctolib gains an immediate and strong foothold in the UK's primary care sector. Medicus is recognized for having developed the first new software for general practitioners in the NHS in over two decades, successfully disrupting a market dominated by two incumbents. The rationale behind the deal is to combine Medicus's deep understanding of the NHS and its user-centric platform with Doctolib's extensive technological expertise, particularly in artificial intelligence and scalable software solutions. The synergy is expected to accelerate the development and deployment of a more comprehensive product suite for UK GPs, focusing on innovations that simplify clinical documentation, automate workflows, and ultimately allow healthcare providers to dedicate more time to patient care.

LegalPlace has completed the full acquisition of its historical and primary competitor, Legalstart, marking a major consolidation event within the French LegalTech landscape. The transaction was financed as part of a significant capital increase by LegalPlace, backed by a consortium of investors including Move Capital Fund I, XAnge, and Eurazeo. The purchase of Legalstart's shares was settled entirely in cash. This strategic merger unites two of the most recognized platforms dedicated to online services for entrepreneurs, which had for years competed directly in the same market segment. The rationale behind the deal is multifaceted, aiming to establish undisputed market leadership and achieve significant scale. The combined entity will serve a vast, mutualized customer base and command a substantial share of new business formations in France. Key synergies include the integration of complementary technology stacks and the acquisition of Legalstart's powerful brand, which LegalPlace views as a crucial differentiator in an industry being reshaped by AI. Furthermore, the merger provides a larger pool of data and client interactions, which is expected to accelerate the development of LegalPlace's advanced AI-powered administrative agent. The Legalstart brand will be maintained post-acquisition to leverage its market recognition, while the combined group focuses on operational integration and future European expansion.

Lattice Semiconductor has agreed to acquire AMI in a strategic transaction designed to create a comprehensive secure management and control platform for the technology industry. The acquisition is a key step in advancing Lattice's strategy to expand its market position in high-growth server, AI, and cloud applications. By combining Lattice's leadership in low-power programmable hardware (FPGAs) with AMI's deep expertise in platform firmware and infrastructure manageability software, the merged entity aims to offer integrated, system-level solutions. This combination is intended to address significant challenges faced by data centers, such as increasing hardware modularity, system complexity, and the critical need for constant uptime and streamlined deployment. The deal is expected to accelerate customer time-to-market by providing more complete and integrated solutions for secure management, flexible control, and predictive maintenance. For Lattice, this move deepens its role from a component supplier to a system-level solution provider, significantly expanding its serviceable addressable market and enhancing its ability to deliver value to customers building the next generation of complex computing systems. The companies have emphasized their shared commitment to maintaining an open, silicon-agnostic approach to support a broad partner ecosystem.

The transaction represents a transition of ownership from a founder-led corporate structure to a sponsor-backed primary LBO. The core industrial rationale of the ownership transfer is to match the target's capital structure with its cross-border scaling ambitions, specifically accelerating market share gains in the high-volume North American life sciences software sector. The timing of the transaction reflects the inflection point where the target requires institutional private equity expertise and global capital to scale its commercial distribution network. Post-acquisition, the strategic focus will prioritize aggressive investment in international go-to-market execution, technological R&D to embed enterprise-grade AI capabilities, and broader product suite expansion. The transaction is capitalized via a unitranche debt facility provided by a US credit fund, engineered to deliver the long-term balance sheet flexibility required for rapid product and commercial scaling. Continuity of leadership is maintained, with the founder and existing management team retaining executive control to execute the next growth phase.

The acquisition of Idemia Public Security (IPS) by Amadeus represents a transformational transaction, marking a significant milestone in the structured divestment strategy of Advent International. Strategically, this acquisition allows Amadeus to internalize world-class biometric capabilities, directly supporting its vision for a modernized and secure global travel infrastructure. The transaction follows a highly competitive auction process exclusively targeting industrial buyers, where the Spanish group successfully leveraged its strong pro forma balance sheet to outbid international competitors. From a transaction facts perspective, the deal reflects the ongoing de-merger of the Idemia group into specialized business units, following the prior sale of its Smart Identity division.

HR Path completed the strategic acquisition of Covalence Consulting Inc. to significantly accelerate the growth and depth of its North American UKG practice. The rationale behind the transaction is to consolidate HR Path's position as a global leader in digital HR transformation by integrating specialized technical expertise in UKG and Infor solutions. This move strengthens the group's ability to deliver high-value outcomes in the United States and Canada, markets where Covalence has established a strong reputation for implementation excellence and customer satisfaction. The integration allows the combined entity to support customers through every stage of their digital journey, from initial advisory to long-term system optimization. By acquiring Covalence, the buyer gains a highly skilled team and a proven delivery culture that aligns with its global "Advise, Implement, Run" strategy, creating a more robust service offering for businesses managing complex workforce and payroll technologies in the North American region.

The transaction involves the entry of Turenne Emergence into Kizeo’s capital, acquiring a ~20% minority stake through an equity investment of 10 million EUR. This growth LBO represents a strategic partnership aimed at accelerating the company's development trajectory over the next five years. The deal rationale is centered on supporting the target's ambitious growth plan, which includes doubling the firm's size through the expansion of its functional software coverage, pursuing international deployment, and evaluating potential external growth opportunities (buy-and-build). By providing capital and strategic support, the acquirer positions the company to further leverage AI technologies for data-driven decision-making and solidify its status as a leading partner for mobile professionals. This deal underscores the continued investor appetite for resilient, B2B vertical software providers that demonstrate high operational efficiency and strong integration within the critical workflows of industrial and construction sectors.

TeamSystem, a leading digital platform backed by Hellman & Friedman, Silver Lake, and CapitalG, has successfully finalized the acquisition of ACD in France. This strategic move represents the fourth transaction of the group in 2026, marking a significant acceleration of its international expansion strategy. The acquisition of the French target allows the group to capitalize on the progressive implementation of mandatory electronic invoicing in France, a regulatory shift mirroring the Italian transition that fueled the group's domestic growth. The strategic rationale centers on exporting the group's consolidated SaaS model to high-density professional markets where administrative and fiscal processes are undergoing deep structural transformations. By combining the target's localized expertise in payroll and accounting production with the group’s proprietary technological scale and AI capabilities, the partnership aims to consolidate the organization’s role as a European champion for SME digitalization.

IKS Health has entered into a definitive agreement to acquire 100% of the equity of TruBridge Inc. through its U.S. arm. The acquisition is a strategic move to create a comprehensive "system of record plus system of action" platform. The strategic rationale is driven by the desire to diversify the acquirer's portfolio into sticky, recurring SaaS-based Electronic Health Record (EHR) segments while deepening its penetration into the rural and community hospital market. By integrating TruBridge’s established EHR backbone with IKS Health’s proprietary AI-driven clinical enablement tools, the combined entity aims to solve complex operational challenges for healthcare organizations. This transaction follows the acquirer's successful playbook of acquiring documentation services and RCM providers, marking its first move into proprietary EHR assets. The deal will facilitate significant cross-selling opportunities, allowing the acquirer to deploy its suite of care-enablement software into the target's extensive installed base of community hospital clients, thereby cementing a more defensible market position within the U.S. healthcare technology landscape.