Blackstone to buy UK software developer Civica

(Sharecast News) - Asset manager Blackstone confirmed on Wednesday that it has agreed to buy software developer Civica from Partners Group for an undisclosed sum. Founded in 2001, Civica has become one of the UK's largest software companies and "a global leader in software for the public sector, providing mission-critical automating and streamlining technology services to clients that range from local to central and federal government, health and social care providers and education," Blackstone said.

Its product portfolio includes workflow and automation, risk and compliance, workforce management, financial management, and data analytics and insights.

Jonathan Murphy, a managing director at Blackstone and Miguel García Gómez, a principal, said: "Civica is a leader in the 'GovTech' space, with an excellent brand and an enviable market position and we are excited to be partnering with a stellar management team to help the business in this next phase of growth.

"This investment is a testament to our long-standing software experience, a significant focus area for the firm globally, and builds on our strong track record of investing here in the UK."