PHC Software sells to Cegid
Deal News | Jan 21, 2025 | Iberian Lawyer
Abreu Advogados, a notable Portuguese law firm, has advised the shareholders of PHC Software on their recent full-scale acquisition by Cegid, a European frontrunner in cloud-based business solutions focusing on finance, human resources, retail, and CPA sectors. As established in 1989, PHC Software rose to prominence within Portugal’s SME sector by offering tailored management solutions aimed at medium-sized business operations. The company, based in several locations including Lisbon and Porto, achieved a turnover of 17.6 million euros in 2023, facilitated by its vast distribution network comprising 315 certified partners and its expansive user base of 170,000 across 37,000 client companies. The legal guidance during the sale was spearheaded by Abreu Advogados' partner, Marta Romano de Castro, with substantial contributions from partners Inês Sequeira Mendes and associate Benedita Marques Pombo. The strategic acquisition by Cegid broadens its footprint within the European market, leveraging PHC’s robust presence and expertise in business management software.
Sectors
- Software Industry
- Legal Services
- Private Equity & Venture Capital
Geography
- Portugal – PHC Software is a Portuguese company and its services, market presence and legal representation are primarily in Portugal.
- Europe – Cegid, the acquiring company, operates out of Europe, reflecting cross-border M&A activity within the region.
Industry
- Software Industry – Both PHC Software and Cegid operate within the software industry, providing business management solutions, which is the central focus of this transaction.
- Legal Services – The involvement of Abreu Advogados highlights the role of legal services in facilitating the sale of PHC Software to Cegid.
- Private Equity & Venture Capital – The transaction involves the acquisition of a company, typical of investment activities in private equity and venture capital.
Financials
- 17.6 million euros – PHC Software's reported turnover for the year 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PHC Software | Target Company | Company | A Portuguese company specializing in business software solutions, offering a variety of products for medium-sized businesses. |
| Cegid | Bidding Company | Company | A European leader in cloud-based business management solutions, acquiring PHC to expand its market presence. |
| Abreu Advogados | Legal Advisor | Company | A Portuguese law firm that advised PHC Software's shareholders during the sale. |
| Marta Romano de Castro | Lead Advisor | Person | Partner at Abreu Advogados leading the advisory team for PHC Software's sale. |
| Inês Sequeira Mendes | Support Advisor | Person | Partner at Abreu Advogados providing support in the advisory team for the transaction. |
| Benedita Marques Pombo | Support Associate | Person | Associate at Abreu Advogados, part of the advisory team for PHC Software's sale. |