Oppenheimer Europe, the London-based arm of Oppenheimer & Co, is acting as joint adviser to Unit4 NV on the recommended cash offer by Advent International.
The offer values Unit4 at approximately EUR1.3bn.
Unit4 is a cloud-focused business software company aimed at helping public sector and commercial services organisations to embrace change simply, quickly and cost effectively in a market sector it calls Businesses Living IN Change (BLINC).
Unit4 incorporates a number of software brands including Agresso, the flagship ERP suite for mid-sized services intensive organisations; Coda, the financial management software; and FinancialForce.com, the cloud applications company formed with investment from Salesforce.com.
With operations in 26 countries across Europe, North America, Asia Pacific and Africa and sales activities in several other countries, UNIT4's revenue was EUR 469.8m in 2012.
Unit4 is headquartered in Sliedrecht, the Netherlands and has over 4,300 employees. It is listed on Euronext Amsterdam and is included in the Amsterdam Midcap Index (AMX).
It is expected that a recommended public offer will be launched in the Netherlands shortly, once approval has been obtained from the AFM (the financial services regulatory authority for the Netherlands).
Xavier Moreels, managing director and Oppenheimer’s head of EMEA technology & telecoms investment banking, says: “This is my fourth transaction for Unit4, and the culmination of my long-standing relationship with the company. We have worked closely with the company’s management and supervisory boards to achieve the best deal for the company and all its stakeholders, using our in-depth knowledge to articulate the key value drivers and optimise the positioning of the company and providing senior-level support throughout the preparatory, due diligence and negotiation phases of the transaction.
“This deal, the largest in enterprise software globally for more than 12 months, builds upon our already strong track-record in the European ERP space and positions us well for future consolidation in the sector.”