EQT Weighs Sale of $2 Billion Danish Software Maker

EQT AB is considering options for Sitecore, including a potential sale that could value the digital marketing software provider at as much as $2 billion, people with knowledge of the matter said.

(Bloomberg) — EQT AB is considering options for Sitecore, including a potential sale that could value the digital marketing software provider at as much as $2 billion, people with knowledge of the matter said.

The Stockholm-based investment firm is working with Goldman Sachs Group Inc. to gauge interest from potential buyers of the Danish business, according to the people, who asked not to be identified discussing confidential information.

A formal sale process for Sitecore would likely begin after the summer and draw interest from other private equity firms, they said. Deliberations are ongoing and no decisions on whether to proceed with a sale have been taken, the people said.

A representative for EQT and Goldman Sachs declined to comment, while a spokesperson for Sitecore couldn’t be reached for comment.

EQT bought a majority stake in Sitecore in 2016 from its founders, in a deal that valued the business at about €1 billion ($1.1 billion). Sitecore employs about 2,200 people across 27 offices globally, and counts some of the world’s largest companies, including Microsoft Corp. and L’Oreal SA, among its customers.

The potential sale of Sitecore adds to dealmaking activity in Europe’s technology sector. Partners Group Holding AG is looking to resurrect the sale of $2 billion public sector software firm Civica, while Silver Lake Management and Bain Capital are in the race to acquire Germany’s Software AG. And Nordic Capital is one of the last suitors circling the Swiss banking software maker Temenos AG.

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