TA Associates to buy small business computer software maker Unit4 in $2 billion deal

(Reuters) – Buyout firm TA Associates will receive Unit4 NV, owned by personal fairness firm Advent International, in a offer valued at more than $2 billion, the company program company explained on Monday.

Netherlands-based Device4 offers organization program for human resource administration, money preparing, accounting and many others, its website showed. It was taken personal when Arrival bought it in 2014 for around 1.2 billion euros ($1.43 billion).

Started in 1980 and led by Chief Government Officer Mike Ettling, Unit4 partnered with Microsoft in 2015 to create self-driving enterprise applications.

Ettling will go on to direct the Device4, the organization program maker mentioned.

Advent revived programs to sell Device4 soon after acquiring interest from a distinctive purpose acquisition enterprise, Bloomberg Information reported in November last 12 months.

Investment decision manager Associates Team has also agreed to devote in the offer.

TA Associates, which has U.S. places of work in Menlo Park and California, backs providers in the enterprise providers, consumer, money services, health care and engineering sectors. It has raised $33.5 billion in capital considering the fact that its founding in 1968.

It has invested in above 500 corporations, and its portfolio consists of ATM operator Cardtronics Plc and databases software program business Idera, among the many others.

(1 euro = $1.1918)

Reporting by Niket Nishant in Bengaluru Editing by Shailesh Kuber