Silver Lake-backed Cegid to merge with Oakley Capital-backed Grupo Primavera in a €6.8bn deal.

Silver Lake-backed Cegid, a provider of cloud-based management solutions, agreed to merge with Oakley Capital-backed Grupo Primavera, a business software provider in Iberia, in a €6.8bn deal. "Joining forces with Grupo Primavera is an immense opportunity for both companies and our respective clients. Like Cegid, Grupo Primavera offers useful and innovative solutions to partners and customers in the cloud, and has achieved impressive growth specifically across Spain, Portugal, and Africa. We share an inspiring vision for the future driven by continuous product and technology innovation, and Cegid is fully committed to investing in the combined company's continued growth. We look forward to working closely with Santiago and the talented team at Grupo Primavera to bring value to a more global customer base," Pascal Houillon, Cegid CEO.