France-based software program group Cegid is buying Spanish rival Grupo Primavera in a €6.8bn deal that mixes two private-equity backed corporations which have every been fashioned by acquisition sprees.

Cegid, which is backed by Silver Lake, KKR and AltaOne Capital, has grown by snapping up rivals since its traders took the enterprise non-public in 2017. London-based Oakley Capital owns Grupo Primavera, which has prospects in Spain, Portugal and Brazil, and has led a dozen acquisitions over the previous three years.

Late final yr, Silver Lake led a €344mn non-public placement into Software AG, a Frankfurt-listed group that is without doubt one of the pioneers of the European software program business. Amid the flurry of offers, Silver Lake and Oakley Capital are additionally crossing paths. Last month, Silver Lake acquired, an Italian on-line value comparability platform majority owned by Oakley and Stockholm-based buyout agency EQT.

Read more: BusinessLend