Cegid, Meta4 in Portugal one of the main global specialists in cloud management solutions for professionals in the areas of Finance, Human Resources, Accounting, Retail, for entrepreneurs and Small Businesses - announced a few days ago the definitive agreement to join the Primavera Group - the leading platform for cloud management software in the Iberian region. 

The union between Cegid and the Primavera Group highlights Cegid's position as a provider of cloud-based enterprise management solutions.

In addition to its Retail and Tax solutions, which have also increased significantly in the HR area with the acquisition of Meta4 in 2019 and the more recent acquisition of VisualTime, the joining of the Primavera Group establishes Cegid's leadership in the Iberian Peninsula and offers new expansion opportunities for the Primavera Group in conjunction with Cegid's presence in Latin America.

In closing this deal, Silver Lake, a global leader in technology investment, will remain the company's majority shareholder. Oakley Capital, which created the Primavera Group through a series of 12 acquisitions and is its majority shareholder, will join KKR and AltaOne as Cegid's minority shareholders.

Together, these shareholders will become partners with Cegid CEO Pascal Houillon, Primavera Group CEO Santiago Solanas, and the rest of the management team in Cegid's next phase of growth.

The Primavera Group began its journey in 2019 when Oakley acquired Ekon as a standalone platform and partnered with a top management team led by Santiago Solanas to realize an ambitious buy-and-build strategy, including the transformational acquisition of Portugal's Primavera BSS in 2021.

Through acquisitions and investment in product innovation and human capital, the Primavera Group has executed its business plan to become the largest Iberian software platform in just three years, well ahead of schedule, and now further increases its offering through the union with Cegid.

Currently, the Primavera Group has 800 employees spread over five countries, works with 165,000 active customers, and has reached a revenue of 76 million euros in 2021.

The technology group offers a wide range of cloud-based software solutions for invoicing, accounting and enterprise resource planning (ERP). These product offerings serve small and medium-sized businesses in Spain, Portugal and Africa, with a strong usage by accounting professionals.

Together, Grupo Primavera and Cegid will have pro-forma revenues in the Iberian region of more than 150 million euros this year. "Joining forces with Grupo Primavera is a tremendous opportunity for both companies and their respective customers. Like Cegid, the Primavera Group offers useful and innovative solutions to partners and customers in the cloud, and has achieved impressive growth specifically in Iberia and Africa," said Pascal Houillon, CEO of Cegid.

"We share an inspiring vision for the future, driven by continued product and technology innovation, and Cegid is fully committed to investing in the continued growth of the company that results from this union. We look forward to working with Santiago and the talented team at Primavera Group to add value to a more global customer base," he added quoted in the statement we had access to.

"We are very aligned with Cegid's vision and ambition and have admired this company for a long time. Like Cegid, we have an entrepreneurial and passionate culture focused on product excellence, a strong commitment to customers and a growth-oriented vision. This is a powerful partnership that will allow us to combine resources and expertise, bringing new solutions and continued innovation to customers, as well as reinforce our proven track record of expanding and integrating new talent and approaches to market needs. Both Cegid and Grupo Primavera share a mission to grow our ecosystem, so this union will bring renewed value to our customers, partners, colleagues and communities," said Santiago Solanas, CEO of Grupo Primavera.

Already Christian Lucas, Co-Director of EMEA at Silver Lake and Vice Chairman of Cegid's Board of Directors notes that "through our investment and strategic development since 2016, Cegid has become a pan-European and global player with strong positions in multiple geographies including France, Spain and Portugal, with a major presence in 12 other countries and selling in over 130 countries. We are excited about the growth prospects of this combined group and the creation of the Iberian enterprise software leader that will strengthen Cegid's existing position on a broader global scale. The trend towards digitization of the European mid-market, particularly through the financial management software market, is large and growing significantly, and this new group will be uniquely positioned to capitalize on this opportunity by continuing to expand."