Blackstone is about to buy software company Civica for $2.5 billion: WSJ

Blackstone Inc. (BX) is nearing a $2.5 billion takeover of software developer Civica, The Wall Street Journal reported Tuesday. The seller of the deal is Partners Group Holding AG, another private equity firm that paid about $1.3 billion for Civica in 2017. The purchase by Blackstone Group could be announced as early as Wednesday, the WSJ reported, citing people familiar with the company. Spokespeople for Blackstone and Partners Group did not respond to a MarketWatch request for comment. Bloomberg reported in May that Partners Group was hoping to raise a $2 billion deal for Civica, a London-based public sector IT services company. Partners Group had tried to sell the company at least twice, the report said. Blackstone shares fell 0.6% in recent trades. The stock is up nearly 43% in 2023, compared to an 18.1% gain by the S&P 500.

-Steve Gelsi

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21-11-23 1238ET

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