Global software investor Hg has made an investment in AUVESY, a global provider of version control and change management software solutions for automated industrial environments.

As part of the transaction, the AUVESY management team will maintain a significant investment in the business whilst the former majority owner Brockhaus Private Equity has fully exited its position. The terms of the transaction have not been disclosed and the transaction is subject to completion.

Founded in 2007 and headquartered in Germany, AUVESY is a provider of version control software for smart production machinery and other industrial Internet of Things (“IoT”) devices. AUVESY manages over five million industrial IoT devices across 45 countries, serving over 700 loyal customers.

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Source: Private Equity Wire