TERACOMM acquired by LINK MOBILITY

In a move that significantly reinforces its digital manufacturing roadmap, Sandvik AB has entered into an agreement to acquire Metrologic Group from Astorg Partners. The transaction represents a valuation multiple that reflects Metrologic's high-margin profile and its critical position in the industrial software ecosystem. This acquisition is a cornerstone of Sandvik Machining Solutions' strategy to broaden its customer offering by integrating quality assurance and metrology into its existing metal-cutting expertise. The deal is structured as a strategic trade sale following a period of ownership by the private equity firm Astorg. Metrologic Group will be integrated into Sandvik as an independent business unit, ensuring the preservation of its "agnostic" brand status—a key requirement for maintaining its broad customer base of hardware competitors. This vertical integration allows Sandvik to link the machining and quality processes, offering a "closed-loop" manufacturing chain that reduces waste and increases precision for global OEMs. From a financial standpoint, the acquisition is expected to be initially neutral to slightly positive on earnings per share, with Metrologic's superior EBITDA margins expected to be accretive to the division. This transaction underscores the ongoing trend of large-scale industrial incumbents acquiring specialized software players to defend their market share against the rise of Industry 4.0 and to transition toward higher-margin, software-driven recurring revenue streams.

NeoXam, a prominent provider of data management and transaction processing solutions for the financial industry, has secured a strategic investment from Cathay Capital and Bpifrance. The consortium is acquiring the stake previously held by BlackFin Capital Partners, which successfully led the company�s carve-out and initial expansion phase starting in 2014.

IK Partners entered into exclusive negotiations to acquire a significant stake in Questel, with a structured mechanism to become the majority shareholder over time. This transaction marks the exit of Capzanine as a shareholder (though it remains the unitranche debt provider) and the reinvestment of Raise alongside IK Partners and CEO Charles Besson. The strategic rationale for the deal is to fund and accelerate Questel's aggressive build-up strategy following a period of exceptional performance where EBITDA tripled to reach €18M. The partnership allows Questel to leverage IK's pan-European network to further its international expansion, particularly capitalizing on its dominant position in patent databases and high-value services for multinational corporations.

LINK Mobility Group ASA has completed the 100% acquisition of the share capital of Archynet s.r.l., known as "Total Connect." The acquisition was conducted on a cash-free, debt-free basis, effectively integrating the Italian mobile messaging business into the Group's existing portfolio. The acquisition is strategically aligned with LINK Mobility’s ongoing consolidation strategy within the European mobile communications market. By acquiring Total Connect, LINK Mobility deepens its footprint in the Italian region, gaining immediate access to the target's existing customer base and messaging infrastructure. The deal enables the acquirer to leverage economies of scale and cross-selling opportunities, integrating Total Connect’s local technical capabilities into the broader Group platform to enhance the overall messaging service offering for enterprise clients.

LINK Mobility Group ASA completed the acquisition of 100% of the voting equity instruments of Horisen Messaging, a Swiss-based subsidiary carved out from HORISEN AG. The acquisition was a strategic move by LINK Mobility to consolidate its position in the European mobile messaging market. By acquiring Horisen Messaging, LINK Mobility secured a dominant market position in Switzerland, holding over 30% of the market share, and gained access to a valuable international messaging network. For the seller (HORISEN AG), the divestiture served as a corporate restructuring to separate the operational SMS trading business from its core software technology platform, allowing the parent company to pivot to a "pure product house" model while maintaining a commercial relationship as a technology vendor to LINK Mobility.

Corsair Capital has agreed to acquire RGI Group from Ardian Expansion, the company founder and the management team. Under Ardian's ownership (2014-2018), RGI transformed from a domestic Italian player into a European leader through the strategic acquisition of Kapia Solutions in France and organic growth. Corsair Capital intends to leverage its deep network in the global financial services industry to further accelerate RGI's international expansion and product development.

This transaction represents a primary leveraged buyout marking the first entry of a private equity sponsor into the company's capital. Following a highly competitive auction process managed by a premier investment bank, the incoming financial partner secured absolute majority control, allowing the founding shareholders to exit their positions. The deal follows a period of rapid internationalization and the establishment of a dominant technical database that has become an industry standard for global manufacturers. To capitalize this operation, the structure includes a tailored unitranche and subordinated debt package provided by a specialized asset manager, including a dedicated acquisition line to support the next major phase of geographic expansion into new emerging markets.

HgCapital is leading a buying investor group to orchestrate a major equity restructuring of Nordic and Benelux software provider Visma. The transaction facilitates the full exit of KKR after a seven-year investment cycle and allows HgCapital to increase its ownership stake to 41%. The reconstituted shareholder structure introduces GIC (Singapore’s sovereign wealth fund), Montagu, and ICG as significant minority investors, while Cinven divests a portion of its holdings to retain a 17% stake. Visma’s management team will also roll over equity to maintain a 7% interest. Subject to regulatory approvals, this buyout builds upon HgCapital's long-term stewardship of the asset, which began with a public-to-private delisting in 2006 and was subsequently adjusted in 2014. This new LBO will leverage this expanded global institutional network to accelerate pan-European market expansion and drive Visma's ultimate transformation into a pure cloud computing (SaaS) business.

EcoVadis has secured €30 million in its first institutional funding round led by Partech Ventures. This minority investment represents the first outside capital raised by the company since its founding in 2007, following ten years of 50% annual organic growth. The fresh capital is earmarked for accelerating the worldwide adoption of its CSR ratings, enhancing the reliability of its scorecards, and furthering investment in core technologies. Specifically, the group plans to utilize the funding for in-house R&D to integrate machine learning and natural language processing (NLP) into its proprietary platform. This pivotal investment enables EcoVadis to broaden its expertise and scale its transatlantic operations to support the transformation of the millions of businesses operating in global supply chains.

Ardian signed an agreement to acquire approximately 60% of Dedalus Holding from Mandarin Capital Partners, Hutton Collins Partners, and Health Holding Company. The founder reinvested to retain a 40% stake and continued to lead the group as CEO and Chairman to ensure management continuity. The transaction was strategically timed following Dedalus's acquisition of a majority stake in NoemaLife, a listed competitor. The partnership with Ardian is designed to provide the financial resources and international network necessary to drive a large-scale consolidation process in the European healthcare IT market. The strategic focus under Ardian's ownership centers on scaling the business across 25 countries, increasing R&D investments for clinical innovation, and optimizing service delivery models.