EQT-backed IFS buys Astea International

Astea International has a market cap of $18m and operates from seven locations, according to a statement.

EQT acquired IFC from the Swedish stock exchange in 2016, at which point it reported sales of SEK 3.03bn and employed 2,700 people.

The company has embarked on an acquisitive growth strategy under EQT’s ownership and now employs 3,700 people and generated sales of $494m in 2017.

Company
Astea was founded in 1979 and is headquartered in Horsham, Pennsylvania. The company generated EBITDA of $3.3m from sales of $27.5m in 2018. It provides service management software for companies in a range of sectors.

People
IFS – Darren Roos (CEO).
Astea International – Zack Bergreen (CEO).

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