PageUp Acquired by EQT to Boost Global Expansion and Innovation
Deal News | Oct 31, 2024 | PR Newswire Cision EQT
EQT, a global investment organization, has acquired PageUp, an Australian-based leader in SaaS talent acquisition and management solutions, from Battery Ventures. The acquisition aims to leverage EQT's expertise to accelerate PageUp's international expansion and enhance its product innovation. PageUp, founded in 1997, provides recruitment marketing and talent management software globally, serving sectors like corporate, healthcare, and education. This acquisition aligns with EQT's strategy to invest in high-growth software businesses within the Human Capital Management (HCM) sector. Under the new ownership, PageUp will see a transition in leadership, with Mark Rice retiring as CEO and Eric Lochner taking over. The acquisition deal contributes to EQT's ongoing efforts to support software businesses in Asia Pacific and other international markets while focusing on inorganic growth in key sectors.
Sectors
- Software as a Service (SaaS)
- Human Capital Management (HCM)
- Private Equity
Geography
- Australia – PageUp is an Australian-founded company and a key player in the local and international HCM software market.
- Asia Pacific – This region is an area of focus for EQT's investment strategy to expand and enhance software businesses.
- Global – EQT aims to leverage PageUp's offerings internationally, with current operations in North America and Europe.
Industry
- Software as a Service (SaaS) – PageUp operates in the SaaS industry, providing talent acquisition and management solutions.
- Human Capital Management (HCM) – The article discusses EQT's investment in PageUp, which is a leader in the HCM sector, offering software solutions for recruitment and talent management.
- Private Equity – EQT is a private equity firm that has acquired PageUp to enhance growth and innovation in the HCM sector.
Financials
- 80-90% – BPEA Private Equity Fund VIII is expected to be 80-90% invested post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PageUp | Target Company | Company | A global leader in SaaS talent acquisition and management solutions headquartered in Australia. |
| EQT | Bidding Company | Company | A global investment organization acquiring PageUp to strengthen its HCM portfolio. |
| Battery Ventures | Selling Company | Company | The majority owner selling its stake in PageUp. |
| William Blair | Financial Advisor to PageUp | Company | Provided financial advisory services to PageUp for the transaction. |
| Barclays and Barrenjoey | Financial Advisors to EQT | Company | Provided financial advisory services to EQT for the transaction. |
| Mark Rice | Retiring CEO of PageUp | Person | Outgoing CEO of PageUp overseeing transition to new leadership. |
| Eric Lochner | Incoming CEO of PageUp | Person | Taking over as CEO of PageUp, with experience in scaling SaaS companies. |