Investcorp unit to sell German HR solutions company for $123m
Summary
Investcorp Technology Partners (ITP), a major European technology investor and a unit of Bahrain-based alternative investment leader Investcorp, has announced that it has entered into a definitive agreement to sell softgarden e-recruiting, a provider of innovative human resources software solutions to Grupa Pracuj, an HR Tech company, leading in Central and Eastern Europe, and listed on the Warsaw Stock Exchange. Headquartered in the German city of Berlin, softgarden offers an innovative recruitment software platform to a diverse set of mid-market and enterprise customers across Europe. Its award-winning Talent Acquisition Suite enables customers to streamline and manage their entire digital recruitment process in an efficient, integrated and data-privacy-compliant manner. ITP acquired softgarden in 2018 as part of its Investcorp Technology Partners Fund IV and worked closely with its founder and CTO Stefan Schüffler and the management team to accelerate growth through international expansion, the strategic acquisition of absence.io as well as meaningful investments in product innovation and its go-to-market strategy. This investment is a great demonstration of how our strategy of working in partnership with founders and management teams comes alive – driving value, executing M&A and internationalising the business model."
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