Francisco Partners completes acquisition of Cybit
Cybit Holdings Plc the leading provider of telematics services and software, today confirmed the completion of its acquisition by Francisco Partners, one of the world’s largest global technology-focused private equity firms.
Francisco Partners is a global technology-focused private equity fund that provides transformational growth capital to technology businesses. The firm is one of the largest technology-focused private equity funds in the world and has invested approximately $4 billion of equity capital in over 50 technology companies since its founding in 1999.
The acquisition completes a process under which Cybit de-listed from the London stock market and moves into private ownership.
Commenting on the acquisition, Deep Shah of Francisco Partners said: “Francisco Partners is excited about the opportunities in Cybit’s core markets and is pleased to partner with the company to support its long-term growth strategy. We also believe that Cybit has a highly talented and committed team and we look forward to working with them to help the company achieve its full potential.”
Richard Horsman, Chief Executive of Cybit Holdings Plc, commented: “We are pleased that the acquisition by Francisco Partners has been completed as we believe that his transaction will help us build on our success over the past decade and enable Cybit to be positioned at the forefront of the telematics market.
“The acquisition further enhances our ability to offer a world-class integrated solution as companies look for a low-risk partners to deliver an enhanced return on investment through the implementation of next generation telematics services.”
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