RTTNews | Jun 3, 2021 02:31AM EDT

02:30 Thursday, June 3, 2021 (RTTNews.com) - KKR & Co. Inc. (KKR) agreed to acquire a minority stake in Cegid, a provider of business management software solutions, at an enterprise value of 5.5 billion euros.

Silver Lake will remain the majority shareholder and is committed to continuing to support Cegid's growth strategy driven by the management team over the several coming years, in partnership with KKR and existing shareholder AltaOne.

The transaction is anticipated to close by the end of the third quarter. Further terms of the investment are not being disclosed at this time.

Founded in 1983 and headquartered in Lyon, France, Cegid is a provider of enterprise software, offering functional (HCM, Finance and Tax), as well as vertical (CPA & SMB, Retail) cloud-based solutions.Cegid provides cloud-based solutions to over 350,000 companies and 4.5 million users across the globe.

Read the original article on RTTNews ( https://www.rttnews.com/3199566/kkr-to-acquire-minority-stake-in-cegid-for-enterprise-value-of-eur-5-5-bln.aspx)

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