Providence Equity Partners, a private equity firm that specialises in the media, communications, education, software and services industries, agreed to acquire a majority stake in Marlink, a provider of smart network solutions, from Apax Partners, a European private equity firm based in Paris, at a $1.4bn valuation. Ardian will co-invest in the transaction. "This important shareholder transaction is a reflection of their belief in our company’s strength and future growth potential. Marlink has become a leader in B2B satcom solutions through significant organic growth and a series of well-targeted strategic acquisitions. With our Smart Network strategy, Marlink is fully focused on supporting the rapid digitization of our customers’ remote operations and on making them more sustainable. We are delighted to partner with premier private equity investors Providence and Ardian as our new majority shareholders and to benefit from the continued support of Apax, our investor-of-the-first-hour. With our solid investor backing, management team and employees, we form a powerful force to take Marlink Group to the next level," Erik Ceuppens, Marlink CEO.