Bahrain-based alternatives asset manager Investcorp is to sell its majority holding in Shine, a Denmark-based digital platform serving compact and medium-sized businesses. The sale will be executed through its subsidiary, Investcorp Technology Partners (ITP).
The acquirer is Cegid, a specialist in cloud management and AI solutions that is majority-owned by the US-based private equity firm Silver Lake.
While the specific financial terms remain undisclosed, the transaction marks the conclude of a partnership that launched with Investcorp’s initial investment in 2017.
Formerly known as Ageras, Shine has achieved “unicorn” status (a startup valued at $1bn or more) and provides a comprehensive suite of tools for SMBs, including banking, invoicing, and accounting services.
The platform currently serves clients across major European markets, including France, the Netherlands, and the DACH region.
The deal is currently awaiting customary regulatory approvals.
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