American private equity company Carlyle has agreed to acquire a majority stake in German software vendor GBTEC Software and its affiliates from Main Capital Partners.
GBTEC is engaged in offering software for areas such as digital process automation (DPA), process governance, risk, and compliance (GRC), and intelligent business process management (iBPM).
The company employs 300 people and serves more than 1,200 customers.
Besides its home markets Germany and Austria, GBTEC also has branches in Australia and Spain.
Carlyle noted that it will collaborate with GBTEC’s management team to expand the company’s product line and expedite its international expansion, with a particular focus on DPA.
The company plans to make significant investments, particularly in artificial intelligence and sales and marketing.
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Carlyle Europe Technology Partners co-head and managing director Michael Wand said: “GBTEC is well placed to benefit from one of the most important technology trends, digital transformation and, specifically, the automation of business processes.
“We believe that with our more than 20 years of experience in infrastructure software investments and supporting the internationalisation of European software companies, we can be a key contributor to GBTEC’s growth into a global market leader.”
Even after the deal, GBTEC founder and CEO Gregor Greinke will continue to be the largest private shareholder and CEO of the software company.
Greinke said: “With our modern and user-friendly products we have become a leading BPM and GRC SaaS provider in Europe in recent years. With Carlyle’s investment, we are now entering the next phase of GBTEC’s growth journey.
“We believe Carlyle, one of the leading technology investors, is the perfect partner to support us in realising our growth ambitions.”