Partners Group poised to buy stake in Softonic
Switzerland-based GP Partners Group is set to buy a 40% stake in software download portal Softonic – Spain’s most visited website – for €110m, according to reports in the local press.
Partners Group would join Spanish mid-market investor Espiga in the company's shareholding.
Espiga acquired a 5% stake in the company in January 2011, investing €7-9m via Espiga Capital Inversión I and II and replacing private investors in the shareholding structure. The deal valued the company at €142m. The firm's founder and a number of shareholders of Grupo Intercom, a creator and developer of internet businesses, retained 80% of the equity, with Bonsai Venture Capital holding a 5% stake and e-commerce solutions provider Digital River retaining the 10% stake it bought for €17.5m in 2010.
Softonic planned to launch an IPO within four years at the time of Espiga's investment.
Softonic is a software download website, providing e-commerce services in Spanish and other languages. The firm is the biggest software download site in Europe and the second largest in the US.
Partners Group did not wish to comment.
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