U.S. private equity firm buys control of Axonify, valuing Waterloo training software company at US$350-million theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
US private equity firm to acquire controlling stake in Axonify for $313 million CAD
United States-based private equity firm Luminate Capital Partners is set to acquire a controlling stake in Axonify for $313 million CAD ($250 million USD).
A spokesperson for Axonify confirmed the controlling stake and size of the investment to BetaKit, adding that it gives the startup a valuation of $438 million CAD ($350 million USD).
The investment gives Axonify a valuation of $438 million CAD ($350 million USD).
Axonify, which provides communications and training software to frontline employees, said the new investment will help the Kitchener-Waterloo-based startup accelerate product innovation and pursue “other key growth initiatives.” The transaction, which is designed to fuel Axonify’s “next phase of growth,” is expected to close in the second quarter of 2021, pending customary approvals and closing conditions.
Luminate Capital Partners Makes Strategic Investment in Axonify prweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prweb.com Daily Mail and Mail on Sunday newspapers.