With solutions ranging from core business applications to financial technology and artificial intelligence tools, TeamSystem’s software platform transforms business processes and enables customers to optimise operations, power efficiency, and expedite growth
Silver Lake to invest €600m in TeamSystem. (Credit: Gerd Altmann from Pixabay)
Private equity firm Silver Lake has agreed to acquire a minority stake in Italy-based business software solutions provider TeamSystem from Hellman & Friedman (H&F) in a deal worth €600m.
The Italian technology company offers digital solutions to support enterprises, professionals, and accountants in Italy and Spain to operate their businesses.
With solutions ranging from core business applications to financial technology and artificial intelligence (AI) tools, TeamSystem’s software platform is said to have transformed business processes.
The platform is designed to enable customers to optimise operations, power efficiency, and expedite growth.
TeamSystem CEO Federico Leproux said: “We are pleased to welcome Silver Lake as a strategic partner. We believe this partnership will unlock even greater potential for TeamSystem as the company continues to expand its product offering to help digitise the Italian and Spanish economies – and beyond.
“We are also delighted to continue our partnership with Hellman & Friedman, which has been our trusted partner for over seven years.”
Following the closing of the deal, Hellman & Friedman will remain the majority shareholder in TeamSystem.
Hellman & Friedman made its initial investment in the technology company in 2016.
The investment from Silver Lake is expected to help TeamSystem to continue to help in the digital transformation of organisations and their accountants.
Silver Lake EMEA co-head Christian Lucas said: “We are excited to partner with TeamSystem as it continues to transform the Italian software industry.
“Management’s strong commitment to technological leadership, customer-centric approach, and drive for best-in-class innovation are qualities we value highly and have invested behind consistently in support of cloud software leaders across Europe, making TeamSystem an ideal fit for Silver Lake.”
Subject to customary conditions and regulatory approvals, the transaction is anticipated to be complete by the end of 2023.
In March 2023, Silver Lake along with Canada Pension Plan Investment Board (CPP Investment) agreed to acquire experience management (XM) software company Qualtrics International at a valuation of about $12.5bn.