Private equity firm Argos Wityu has entered into exclusive talks to sell its portfolio companies I'Car Systems and Datafirst, two France-based software development companies for automotive manufacturers and dealers, to US-based PE house Providence Equity Partners.
GP takes a minority stake in the IT service, while the management team remain on board
Existing investors E.Ventures and Heartcore also participate in the funding round
Transaction involves four remaining assets, including Genesys, eDreams and Asia Broadcast Satellite
Existing investors Velocity Capital, Industrifonden and Frumtak also participate