Apax buys 3i Infotech software business; sells stake in Boats Group
Apax Global Alpha
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Investor Apax Global Alpha said it was buying 3i Infotech’s software products business and sold its stake in marine software maker Boats Group to funds advised by Permira.
The Apax X Fund and its limited partner AGA is expected to invest around €5.4m in the new acquisition, which will be named Azentio Software.
Following the transaction, Apax X will support the new entity with increased investments in research & development and sales and marketing, the company said.
Apax also said it had agreed to sell a minority stake in ThoughtWorks, a global software consultancy, to a group of investors.