M&A Deal Summary

EQT Private Capital Asia Acquires PageUp

On October 31, 2024, private equity firm EQT Private Capital Asia acquired internet software and services company PageUp from Battery Ventures

Acquisition Highlights
  • This is EQT Private Capital Asia’s 4th transaction in the Internet Software and Services sector.
  • This is EQT Private Capital Asia’s 3rd transaction in Australia.

M&A Deal Summary

Date 2024-10-31
Target PageUp
Sector Internet Software and Services
Buyer(s) EQT Private Capital Asia
Sellers(s) Battery Ventures
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

PageUp

Melbourne, Australia
PageUp is a manufacturer of cloud based, enterprise talent management software. Its tools and services empower organizations to optimize their human resources investment processes, enhance workforce performance, and deliver a personalized experience to candidates and employees. PageUp was established in 1997 and is based in Melbourne, Australia.

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Buyer(S) 1

Buyer

EQT Private Capital Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT Private Capital Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. EQT Private Capital Asia was formed in 1997 and is based in Hong Kong.


DEAL STATS #
Overall 69 of 69
Sector: Internet Software and Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 16 of 16
Country: Australia M&A 3 of 3
Year: 2024 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-24 Horizon Robotics

Beijing, China

Horizon Robotics is a provider of energy-efficient computing solutions for advanced driver assistance systems (ADAS) for consumer vehicles, and NETA Auto. Horizon Robotics was founded in 2015 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-26 Pioneer

Tokyo , Japan

Pioneer is a global manufacturer based on its core car electronics business. In addition to the development of advanced technologies such as 3D-LiDAR sensors and an HD map for autonomous driving, Pioneer is working to create safe, reliable, comfortable, and fun in-car environments for the autonomous driving society of the near future, by providing new in-car entertainment services. Pioneer was established in 1947 and is headquartered in Tokyo, Japan.

Sell $1.1B

Seller(S) 1

SELLER

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 63 of 67
Sector: Internet Software and Services M&A 13 of 15
Type: Secondary Buyout M&A Deals 9 of 11
Country: Australia M&A 1 of 1
Year: 2024 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-20 steute

Löhne, Germany

steute manufactures switches, sensors, and other products that enable increased automation and safety. The company’s product line includes certified medical-control devices that help precisely control medical equipment in operating rooms globally. steute is based in Löhne, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-21 PST

Ely, United Kingdom

PST is a provider of measurement instrumentation and monitoring solutions for process-critical applications worldwide. With 12 leading brands, PST offers a comprehensive suite of proprietary sensors, instruments, analyzers, and monitoring solutions with sensing capabilities across parameters, including moisture, gas, level, and flow. PST was founded in 1964 and is based in Ely, Cambridgeshire.

Sell -