M&A Deal Summary

Apax Acquires Azentio

On December 28, 2020, private equity firm Apax acquired software company Azentio from 3i Infotech for 10.0B INR

Acquisition Highlights
  • This is Apax’s 20th transaction in the Software sector.
  • This is Apax’s 49th largest (disclosed) transaction.
  • This is Apax’s 1st transaction in Singapore.

M&A Deal Summary

Date 2020-12-28
Target Azentio
Sector Software
Buyer(s) Apax
Sellers(s) 3i Infotech
Deal Type Divestiture
Deal Value 10.0B INR

Target

Azentio

Singapore, Singapore
Azentio provides core software to BFSI customers and ERP solutions to SMB enterprises primarily across Middle East and Africa, Asia Pacific, and India. The company's flagship products include Premia Astra (Core Insurance Solution), Kastle (Universal Banking Solution), AMLOCK (Financial Crime Detection and Management Solution), MFund Plus (Wealth & Asset Management Solution), and Orion (Enterprise Resource Planning Solution). Azentio was formed in 2020 and is based in Singapore.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 226 of 262
Sector (Software) 20 of 26
Type (Divestiture) 23 of 27
Country (Singapore) 1 of 2
Year (2020) 7 of 7
Size (of disclosed) 49 of 54
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 ECI Software Solutions

Fort Worth, Texas, United States

ECI Software Solutions is a provider of industry-specific business software solutions and services, focusing on cloud-based technologies. ECI has served small to medium-sized manufacturing, wholesale/retail distribution, building and construction, and field service organizations. ECI Software Solutions was founded in 1998 and is based in Fort Worth, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-29 Boats Group

Miami, Florida, United States

Boats Group is an online classifieds marketplace and technology provider for the recreational marine industry and operates the four web portals – BoatTrader, boats.com, YachtWorld, and CosasDeBarcos.com. Boats Group has offices in North America (Norfolk, Virginia and Vancouver, British Columbia) as well as in Europe (the United Kingdom, Spain & Italy). Boats Group was founded in 1999 and is based in Miami, Florida.

Sell -

Seller(S) 1

SELLER

3i Infotech

Navi Mumbai, India

Category Company
Founded 1993
Sector Information Technology
Employees4,000
Revenue 8.1B INR (2024)
DESCRIPTION

3i Infotech is a global Information Technology company committed to empowering business transformation. With a comprehensive set of IP-based software solutions and a wide range of IT services, the company has successfully streamlined the business operations of customers globally. The Company has a strong foothold and customer base in geographies like South Asia, the Middle East and Africa, Asia Pacific, the Kingdom of Saudi Arabia, and North America. 3i Infotech was founded in 1993 and is based in Navi Mumbai, India.


DEAL STATS #
Overall 2 of 2
Sector (Software) 2 of 2
Type (Divestiture) 2 of 2
Country (Singapore) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-24 3i Infotech

London,, United Kingdom

3i Infotech Western Europe provides investment management software solutions to midmarket UK firms.

Sell -