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00:03:35 France-based ERP vendor Cegid has agreed to combine with Grupo Primavera. The deal is pictured as giving Cegid a strong presence in the Iberian peninsula and enhancing opportunities to expand on Latin America.

The announcement did not specify any revenue or transaction amount in the all stock deal but said the value of the larger Cegid as $6.9 billion. Both companies have been led by Sage veterans. The CEO of Cegid, Pascal Houillon, was CEO of Sage Americas from January 2011 through May 2015. Santiago Solanas, CEO of Grupo Primavera since December 2020, was with Sage for nine years 11 months and served as global chief marketing officer there from March 2014 through April 2017. Silver Lake will remain the majority shareholder of the combined company. Oakley Capital created Primavera starting with the 2019 purchase of Ekon, led by Solanas, and the acquired Primavera BBS in 2021.

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