PageUp Acquired by EQT Group in Strategic Expansion

Deal News | Nov 01, 2024 | EIN

EQT Group, the Swedish investment titan, has officially acquired PageUp Group, an Australian human resources software provider. Formerly under the ownership of U.S.-based investment firm Battery Ventures, PageUp has significantly expanded its revenue and services during its five-year stewardship. Battery Ventures, known for its investments in innovative and corporate infrastructure technologies, acquired a stake in PageUp in 2018, facilitating substantial growth through strategic acquisitions. This growth saw PageUp's annual revenue triple, highlighting the firm's success in recruitment software solutions, especially among major U.S. universities. EQT, with vast global investments across Europe, North America, and the Asia-Pacific, looks to extend its influence in HR software and infrastructure through this acquisition. PageUp boasts a global presence with offices in key cities like Melbourne, Sydney, and New York, serving diverse sectors including public administration and healthcare.

Sectors

Investment Management
Human Resources Technology

Geography

Australia – Home country of PageUp Group and part of the Asia-Pacific region where EQT invests.
Sweden – Home country of EQT Group, executing the acquisition.
United States – Market where PageUp has significant client engagements and where Battery Ventures is based.

Industry

Investment Management – Involves EQT Group and Battery Ventures focusing on acquiring and managing equity interests to grow portfolio companies like PageUp.
Human Resources Technology – PageUp operates within this sector, providing software solutions for HR management and recruitment.

Financials

€210 billion – Assets under management by EQT Group.
$227 billion – US dollar equivalent of EQT Group's assets under management.

Participants

Name	Role	Type	Description
EQT Group	Acquirer	Company	A Swedish investment company with a global portfolio across private equity and infrastructure sectors.
PageUp Group	Target	Company	An Australian HR software provider with services extending to recruitment solutions for various sectors.
Battery Ventures	Vendor	Company	U.S. investment firm specializing in technology and infrastructure sectors, previously owned a majority stake in PageUp.