M&A Deal Summary

Apax Acquires Finwave

On December 12, 2023, private equity firm Apax acquired software company Finwave from Lutech

Acquisition Highlights
  • This is Apax’s 25th transaction in the Software sector.
  • This is Apax’s 9th transaction in Italy.

M&A Deal Summary

Date 2023-12-12
Target Finwave
Sector Software
Buyer(s) Apax
Sellers(s) Lutech
Deal Type Divestiture

Target

Finwave

Milan, Italy
Finwave is specialized financial software for factoring, leasing, UTP/NPL, post-trading, and global custody. Finwave is based in Milan, Italy.

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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 256 of 266
Sector: Software M&A 25 of 27
Type: Divestiture M&A Deals 26 of 28
Country: Italy M&A 9 of 9
Year: 2023 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 OCS

Brescia, Italy

OCS is a provider of proprietary software solutions for the retail finance market. OCS has supported the main Italian banks and specialized financial institutions, acting as a trusted technology partner for complex and innovative IT solutions for both consumer credit and asset finance. OCS was founded in 1984 and is based in Brescia, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-20 Matchesfashion

London, United Kingdom

Matchesfashion is a luxury online retailer, engaging with its customers online, in-store, via its app, and at its pioneering retail and broadcasting destination, 5 Carlos Place. It delivers to over 176 countries and offers 24/7 advice through its fashion concierge team MyStylist. Matchesfashion was founded in 1987 and is based in London, United Kingdom.

Sell $63M

Seller(S) 1

SELLER

Lutech

Cologno Monzese, Italy

Category Company
Founded 2001
Sector Information Technology
DESCRIPTION

Lutech is an IT system integration and solutions provider, designing and enabling digital transformation and innovative enterprise technologies for private and public-sector clients. Among the leading IT system integration and solutions providers in Italy, Lutech is able to deliver a wide span of solutions from strategy definition, product licensing and maintenance, to operational management. The company is recognized for its capabilities in the following domains: next-generation IT infrastructure, cloud solutions, customer engagement solutions, credit, and ePayment solutions, cybersecurity, IoT & Big Data, eHealth solutions, and cognitive computing. Lutech was formed in 2001 and is based in Cologno Monzese, Italy.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Italy M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-17 Atos Italia

Milan, Italy

Atos Italia provides cybersecurity, cloud and high-performance computing. Atos Italia is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-08 Making Science - Cloud & Cybersecurity Unit

Madrid, Spain

Making Science's Cloud & Cybersecurity Unit provides cloud and cybersecurity services.

Buy -