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Hungarian Venture Capital and Private Equity Association
The Hungarian Venture Capital and Private Equity Association (HVCA) represents the interests of the private equity and venture capital industry in Hungary by supporting its members and promoting adherence to the highest possible professional and ethical standards.
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Enterprise Investors sells intive to Mid Europa Partners
Tue, December 11, 2018Enterprise Investors sells intive to Mid Europa Partners
Warsaw, 11 December 2018 Enterprise Venture Fund I (EVF) and Polish Enterprise Fund VII (PEF VII), two funds managed by Enterprise Investors (EI), announced today that they have signed an agreement to sell intive, a global digital product development company, to Mid Europa Partners, a leading buyout investor in Central and Eastern Europe.
Mid Europa Partners will pay EUR 100 million for 100% of the shares;
The transaction is conditional upon obtaining antimonopoly approval.
intive’s story begins in 2015 with a merger of BLStream and SMT Software Services, two companies owned by EI-managed funds. In 2012 EVF made an initial investment in BLStream’s
expansion and in 2015 PEF VII acquired SMT Software Services. Between 2012 and 2015 the funds jointly invested EUR 34 million in the two companies. The creation of intive was followed by further add-on acquisitions. In 2017, the company invested in Argentinian FDV Solutions and German iNTENCE.
Today intive is a digital transformation partner for leading companies worldwide. Among its clients are Audi, Vorwerk, BlackBerry, Esprit, ING and Viacom. Operating through 15 offices and
7 design studios, and with more than 1,500 highly qualified specialists on board, intive co-creates software solutions that accelerate its customers’ digital transformation. The company adds value throughout the life cycle of each application, from design to maintenance. In 2018, intive is expected to deliver revenues of over EUR 80 million.
Mid Europa Partners is a leading buyout investor focused on the growth markets of Central and Eastern Europe. Operating from London, Budapest, Warsaw and Istanbul, the firm has raised and managed funds totaling over EUR 4.6 billion.
Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion.
These funds have invested EUR 1.9 billion in 143 companies across a range of sectors and exited 129 companies with total gross proceeds of EUR 3.7 billion.
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