Blackstone Group Nears $2.5B Acquisition Deal With UK Software Developer Civica
Portfolio Pulse from Benzinga Neuro
Blackstone Group Inc. (NYSE:BX) is close to finalizing a $2.5 billion deal to acquire Civica, a U.K.-based software developer. The acquisition includes Civica's debt and is part of Blackstone's strategic expansion in Europe, following other U.K. investments. Civica, currently owned by Partners Group, was acquired in 2017 for approximately $1.4 billion. The company provides software services to public agencies and generates recurring revenue, fitting Blackstone's investment strategy of focusing on high-growth, stable cash flow businesses.
November 22, 2023 | 9:28 am
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Blackstone Group is set to acquire Civica for $2.5 billion, indicating an aggressive expansion in the U.K. and a strategic move into the software industry. This aligns with Blackstone's focus on stable, high-growth investments.
The acquisition of Civica by Blackstone is likely to be viewed positively by investors as it represents strategic growth and diversification into stable tech sectors. Given Blackstone's track record and the nature of Civica's business, this move is expected to contribute positively to Blackstone's revenue and market positioning in the short term.
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