'Blackstone Nears $2.5B Deal To Buy Software Developer Civica' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Blackstone Group Inc. is reportedly in advanced discussions to acquire Civica, a U.K.-based software developer, for approximately $2.5 billion, including debt. The deal could be announced imminently, possibly as early as Wednesday. This acquisition would follow Blackstone's recent investments in the U.K., including the purchase of two hotels and an affordable housing project.
November 21, 2023 | 4:54 pm
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Blackstone Group Inc. is nearing a deal to buy Civica for around $2.5 billion. This acquisition aligns with Blackstone's strategy of expanding its U.K. investments and could potentially enhance its portfolio with Civica's software capabilities.
The news of Blackstone nearing a significant acquisition typically generates positive sentiment among investors, as it may lead to synergies and growth opportunities. The deal's size and the strategic nature of the acquisition suggest a potentially positive impact on Blackstone's stock in the short term.
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