Danish private equity firm Axcel is weighing a potential sale of IT consulting firm Emagine, in a transaction that could value the business at around €700m ($826m), according to a report by Bloomberg citing unnamed sources familiar with the matter.
Axcel has approached investment banks for proposals ahead of a possible sale process that could launch next year.
Emagine, which Axcel acquired in 2021, provides business and technology services to over 600 clients in the financial sector, with operations across Europe, the UAE, and India.
Sources noted that deliberations are ongoing and Axcel could opt to retain the business for a longer period. The Copenhagen-based private equity firm invests across Northern Europe with a focus on technology, business services, industrials, healthcare, and consumer sectors, and has raised eight funds totalling more than €4.3bn in committed capital.
