Apax Digital agrees to sell Signavio to SAP

Apax Global Alpha revealed on Thursday that partner company Apax Digital Fund had agreed to sell portfolio company Signavio to SAP, subject to customary closing conditions.

AGA said the transaction valued its look through investment in Signavio at approximately €8.7m, representing an uplift of roughly 80% to last unaffected valuations and an uplift of about €3.9m to its adjusted net asset value on 30 September 2020.

The FTSE 250-listed firm noted that the aforementioned figures related to its look through position of ADF's overall investment in Signavio and were stated before taking into account any closing adjustments, fees, costs, and carried interest.

As of 0920 GMT, Apax Global shares were up 0.73% at 198.23p.