Horizon-backed Sabio acquires Coverage

The deal was not supported with fresh equity from Horizon.

The acquisition is expected to expand the company's footprint in France with more staff and customers in the region.

Since Horizon's initial investment, the company has acquired Rapport and DatapointEurope in 2017, Bright UK and FlexAnswer Solutions in 2018, Callware in January 2019, Team Vision in January 2020, and DVELP in March 2020.

Lyceum Capital bought a 56% stake in Sabio via its Lyceum Capital III fund in a deal inked in July 2016; the deal valued the business at £50m. Subsequently, Lyceum's management established Horizon as a spinout in 2018 and took on the mandate to continue managing the portfolio of its £330m third fund.

Company
Founded in 2007, Paris-based Coverage Group is an established technology partner of Genesys Gold, Avaya Edge, Oracle Gold and Broadsoft.

People
Coverage Group – Julien Jardin (CEO).

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• Topics
• Portfolio management
• France
• Technology
• Build-up
• Buy-and-build
• France
• Horizon Capital (formerly Lyceum Capital)