Francisco Partners Fund V (‘Francisco Partners’) has entered into an agreement to acquire EG A/S (‘EG’) from the majority shareholder Axcel.
Following the sale of EG’s service business to DXC Technology, EG today is a leading Scandinavian software company with a suite of proprietary software solutions. Founded in 1977, the company predominantly develops and sells proprietary subscription-based (SaaS) solutions to both public and private customers. The public segment primarily provides payroll and rostering software to government and municipalities, while the private segment offers tailormade software solutions to industry professionals such as lawyers, contractors and housing administrators. EG is present in Denmark, Norway and Sweden and serves more than 9,500 customers – a market leading position that has been established through ongoing M&A, close proximity to customers and deep sector knowledge.
The enterprise value of the transaction amounts to DKK 3.7bn.