VERINT SYSTEMS acquired by THOMA BRAVO

The Carlyle Group acquired a majority stake in Ciril Group from its founder and historical shareholders. The transaction marks a new phase for the Lyon-based software editor, aiming to accelerate its international expansion and consolidate its leading position in the French GovTech market. Carlyle intends to support Ciril Group in its transition to a full SaaS model and drive growth through strategic bolt-on acquisitions in the GIS and public administration software sectors.

Keensight Capital has signed an agreement to acquire a majority stake in Decision Focus from VIA equity and other existing shareholders. The leadership team of Decision Focus will reinvest alongside Keensight to maintain operational continuity. The strategic rationale for the acquisition is to accelerate Decision Focus’ international expansion and to integrate advanced AI technologies into its no-code GRC platform. For VIA equity, the sale represents a successful exit from its fourth fund after a three-year holding period marked by strong profitable growth. The transaction highlights the increasing demand for sophisticated compliance and risk management software in an era of heightened geopolitical tensions and regulatory scrutiny. Keensight will leverage its specialized expertise in the GRC software space to support the company in unlocking new growth avenues in the US and European markets.

Hawk Infinity Software (HIS) has entered into a definitive agreement to acquire the remaining 9.9% minority stake in Nytt Foretak AS. This transaction follows HIS’s original acquisition of a majority interest and results in the group now controlling 100% of the target’s equity. The settlement for this stake is primarily being executed through an issuance of shares in HIS’s parent company, Hawk Infinity AS. In tandem with the minority acquisition, HIS has reached a final settlement regarding the contingent deferred consideration (earn out) for Nytt Foretak. A total of NOK 12.6 million will be paid to resolve all outstanding claims under this agreement, also primarily settled via parent company shares. This move aligns with HIS’s broader strategy of consolidating full ownership in its high performing portfolio companies where founders had previously retained minority interests. The acquisition of full control allows for deeper integration and strategic alignment as Nytt Foretak continues its rapid growth, which saw a 57% revenue increase and 99% EBITDA growth year over year as of June 2025.

Sapiens International Corporation has entered into a definitive agreement to be acquired by funds advised by Advent in an all,cash transaction. Under the terms of the deal, shareholders will receive $43.50 per share, representing a significant 64% premium over the company's undisturbed closing price on August 8, 2025. While Advent will take a controlling stake, the existing shareholder Formula Systems (1985) Ltd. will retain a minority ownership position in the privately held company. The strategic rationale for the acquisition is to accelerate the group's transition toward AI,driven and SaaS,based insurance solutions. By moving into a private setting, the entity will benefit from Advent's global resources and operational expertise to navigate market shifts more effectively and enhance its product innovation roadmap. The deal is expected to close between late 2025 and early 2026, subject to customary regulatory approvals and shareholder consent. Following the completion of the merger, the company will be de,listed from the NASDAQ and TASE. The transaction is supported by $1.3 billion in aggregate equity contributions from Advent, providing a high level of closing certainty for the company's future innovation in the insurance technology sector.

The transaction represents the 100% acquisition of Ansys by Synopsys, a transformational deal that unites two industry leaders to create a powerhouse in silicon-to-systems design solutions. Structurally, this acquisition combines the acquirer's pioneering semiconductor EDA capabilities with the target's broad, multi-physics simulation and analysis portfolio. This merger is driven by the increasing systemic complexity of intelligent systems, which necessitates a deeper integration of electronics and physics to ensure product reliability and performance. From a strategic perspective, this deal allows the combined entity to address a significantly expanded total addressable market, moving beyond core semiconductor design into attractive adjacencies such as automotive, aerospace, and industrial sectors. By fusing these highly complementary technologies, the combined organization can offer customers a more powerful, integrated approach to innovation, particularly in the development of AI-powered systems.

Groupe Baelen entered into a definitive agreement to sell a minority stake of less than 30% in its software subsidiary, SoftNext, to the family-backed investor Perwyn. This strategic partnership was established to reinforce the group’s acquisition engine and provide the professional expertise required to scale the organization toward a multi-billion euro valuation. While the operational management remains autonomous, the entry of new strategic capital is intended to refine the group’s consolidation processes and broaden its network of potential acquisition targets across Europe. The deal was structured to allow the parent group to retain control while benefiting from the sector-specific experience of a specialist investor in scaling technology platforms.

IN Groupe successfully finalized the acquisition of IDEMIA Smart Identity to establish itself as a global leader in secure identity solutions and trust services. This transaction, the largest in IN Groupe's history, significantly scales the group’s operations, tripling its workforce to 4,000 employees and pushing consolidated revenues above €1 billion. The deal is strategically designed to merge the geographical, commercial, and technological complementarities of both entities, creating a dominant European champion capable of competing on a global scale. By internalizing IDEMIA Smart Identity's expertise, IN Groupe strengthens its control over the entire identity value chain and accelerates its international growth, particularly in the expanding digital identity and "phy-gital" markets.

Rocscience has completed the cross-border acquisition of 2SI, an innovative Italian provider of structural engineering software solutions. This transaction marks another corporate development for Rocscience, following its previous software acquisitions of DIANA FEA and 3GSM. Under the terms of the agreement, Rocscience will integrate 2SI’s technical expertise and proprietary software technologies directly into its existing global product portfolio. The transaction was driven via a bilateral process, ensuring full alignment between both corporate entities. The acquisition accelerates Rocscience’s international growth strategy by expanding its product capabilities outside its core geotechnical software domain and into the structural engineering software segment. By absorbing 2SI, Rocscience expands its suite of 2D and 3D engineering software solutions tailored for civil, infrastructure, mining, and construction professionals worldwide. The industrial synergy thesis centers on leveraging Rocscience’s extensive global customer base and commercial platform to scale 2SI’s reliable and productive structural tools. This cross-border integration reinforces Rocscience's market leadership and allows it to capture broader engineering software demand across Europe and international markets.

Proximus Group entered into a binding agreement to sell its 92.7% stake in Be-Mobile to Arrive for an enterprise value of EUR170 million. The transaction allows Proximus to complete its EUR500 million divestment program two years ahead of the original 2027 schedule, leading the group to raise its total asset disposal target to EUR600 million. For Arrive, the acquisition significantly strengthens its footprint in the Benelux region and expands its service portfolio through Be-Mobile's specialized big data and AI capabilities. The deal remains subject to approval by the Belgian Interfederal Screening Committee (CFI) for foreign direct investments.

This transaction involves the acquisition of an 80% majority stake in Visicon GmbH by Var Group, a strategic move designed to reinforce the acquirer's Enterprise Platform Competence Center and accelerate its internationalization in the DACH market. The business combination is driven by the demand for end-to-end digitalization of business processes within mid-market manufacturing enterprises. By integrating the target’s specialized SAP and EDI expertise, the acquirer strengthens its service portfolio and gains a new regional foothold, particularly in Germany and Austria. The rationale includes the cross-pollination of EDI and digital document flow solutions across the acquirer’s broader European customer base, creating significant potential for revenue synergies.