General Atlantic completed the acquisition of PlanetArt from Claranova for $169.5m.

General Atlantic, an investment fund, completed the acquisition of PlanetArt, a personalized e-commerce business, from Claranova, a technology group, for $169.5m. “The sale of PlanetArt is much more than a financial transaction. It marks a strategic turning point for Claranova. By becoming a pure play software publisher, we are affirming our ambition to become a market leader, with a clear, coherent offering driven by three strong business segments. I would like to pay tribute to Claranova's teams and our Board of Directors for their hard work over many months in bringing this plan to a positive conclusion. Their rigor, perseverance and professionalism contributed decisively to the success of this sale.This strategic transformation will provide us with a solid foundation for the future based on a streamlined organization, improved profitability, and a stronger financial structure. We are now fully focused on the future and back on track to achieving sustainable, profitable growth, capitalizing on our technological expertise and capacity for innovation," Eric Gareau, Claranova CEO.