Nordic Capital closes in on deal for Astorg's Anaqua, sources say
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By Emma-Victoria Farr
FRANKFURT, Nov 15 (Reuters) - Private equity firm Astorg is nearing a sale of its U.S.-based intellectual property software firm Anaqua to Nordic Capital for around $2.5 billion, two people familiar with the matter told Reuters.
The buyout firms are finalising a deal that could be announced in the coming days, provided there are no delays, the people said, speaking on condition of anonymity.
Bloomberg first reported the news on Friday. Reuters first reported that Astorg was considering a sale of Anaqua in March this year.
Nordic Capital declined to comment. Astorg did not immediately return requests for comment.
Founded in 2004, Anaqua's global operations are headquartered in Boston, with offices across the United States, Europe and Asia. The company offers software that manages patents, trademarks and contracts for law firms and corporations.
Anaqua's annual earnings before interest, tax, depreciation and amortisation (EBITDA) totalled around $80 million in 2023, Reuters previously reported.
Astorg manages around 24 billion euros ($25.29 billion) in assets, while Nordic Capital has around 31 billion euros ($32.67 billion) of assets under management, according to their websites.
($1 = 0.9489 euros)
(Reporting by Emma-Victoria Farr, Editing by Louise Heavens)
((emma-victoria.farr@thomsonreuters.com;))