TeamSystem, an Italian cloud software maker, has announced that Silver Lake, a private equity firm, has decided to purchase a minority stake in the organization from Hellman & Friedman (H&F). TeamSystem disclosed in a statement; The investment will be approximately worth 600 million euros (USD 660.48 million); H&F will stay as a majority shareholder once the transaction closes.
Founded in 1979, TeamSystem offers accounting, business management software, and payroll for small and medium-sized enterprises.
Read More: Silver Lake acquires minority stake in TeamSystem for $660 million
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