Carlyle to sell UC4 Software to EQT Partners

Reuters News
Posted: Aug 13, 2012 2:05 PM
Carlyle to sell UC4 Software to EQT Partners

(Reuters) - The Carlyle Group <CG.O> is to sell UC4 Software, the world's largest independent IT process automation software vendor, to Swedish private-equity firm EQT Partners for an enterprise value of 220 million euros ($271.73 million).

EQT VI will acquire 100 percent of UC4 from Carlyle Europe Technology Partners and founder Franz Beranek, EQT said in a separate statement.

Carlyle Europe Technology Partners had bought UC4 in March 2006 as a platform for industry consolidation in the IT process automation sector.

UC4 has a client base of more than 2,000 customers and generated revenue of about 62 million euros ($76.58 million) in the year ended April 2012.

Further details of the deal, which is expected to close in the fourth quarter, were not disclosed.

Carlyle Group shares were up 2 percent at $24.17 in afternoon trade on Monday on the Nasdaq.

(This story corrects Carlyle's spelling in headline, first paragraph)

($1 = 0.8096 euros)

(Reporting by Aman Shah in Bangalore; Editing by Supriya Kurane)