Private equity firm Cinven is close to acquiring French data services specialist Artefact in a deal that could value the company at around €1bn ($1.2bn), according to a report by Bloomberg citing unnamed people familiar with the matter.
Cinven has reportedly emerged as the leading bidder following a competitive auction, edging out rival buyout firms in the final stages of the sale process. The transaction would mark a significant exit for Ardian, which led a consortium to take Artefact private in 2021.
While negotiations are said to be at an advanced stage, sources cautioned that no deal is guaranteed until final terms are agreed. Representatives for both Cinven and Ardian declined to comment.
Paris-based Artefact is a fast-growing consultancy that blends artificial intelligence, data science, and digital transformation services. It serves a global roster of over 1,000 clients, including BNP Paribas, Carrefour, and Unilever, according to its website.
Ardian began exploring strategic options for Artefact earlier this year and has been working with JPMorgan Chase & Co on the potential sale, as previously reported by Bloomberg.
