Bridgepoint makes majority investment in SaaS intranet provider LumApps

Private Equity Wire

Bridgepoint via its mid-market investment fund Bridgepoint Europe VII will become the majority investor in SaaS intranet specialist LumApps in a deal valued at $650m.

As part of the transaction, existing LumApps backers Goldman Sachs Alternatives, Eurazeo Growth, Bpifrance – through its Large Venture fund – and IRIS will sell their shareholdings in the business to Bridgepoint.

Further financial terms of the deal, which is expected to close in July 2024, have not been disclosed.

Headquartered near Lyon, France, LumApps’s AI-powered platform integrates with enterprise software such as Google Workspace and Microsoft 365, and business apps and HR resources such as Workday, ServiceNow, Zoom, Salesforce, Box and SAP SuccessFactors. LumApps has more than five million users and around 700 clients, according to a press statement.

Bridgepoint said that it would support LumApps’s international expansion with a focus on the US, with further investments in product development to enhance the employee experience, cross-sell new products and continue M&A activities.

Bridgepoint’s investment in LumApps, the seventh acquisition by BE VII, follows previous software investments including Kyriba, Fenergo, Calypso, eFront and Brevo.

Bridgepoint was advised by Deutsche Bank, Latham & Watkins, Bain, Crosslake, EY, D’Ornano + Co, ERM and Marsh.

LumApps was advised by William Blair, DLA Piper and Squire Patton Boggs.

The full article is available here. This article was published at Private Equity Wire.