Swedish company buys UC4 in Bellevue
EQT bought the company from Carlyle Europe Technology Partners, another private equity firm, in a deal that gives UC4 an enterprise value of about $270 million.
UC4, a business automation software company with U.S. headquarters in Bellevue, was purchased Monday by Swedish private equity firm EQT Partners AB.
EQT bought the company from Carlyle Europe Technology Partners, another private equity firm, in a deal that gives UC4 an enterprise value of about $270 million, according to Stockholm-based EQT.
The deal is intended to widen UC4's presence in cloud computing.
"The signifcance of this is we will be more growth oriented," said Randy Clark, chief marketing officer for UC4.
Carlyle bought UC4, whose worldwide headquarters are in Wolfsgraben, Austria, in 2006 and merged it with Bellevue-based AppWorx Corp. a year later.
About 100 of UC4's 315 employees work in Bellevue and the company plans to continue to hire, Clark said.
"We are delighted to have partnered with Carlyle, and are very excited to join with EQT VI in accelerating our growth, developing our company and supporting our customers," UC4 CEO Jason Liu said in a statement.
UC4's customers include German insurer Allianz and postal service Deutsche Post , as well as U.S. restaurant chain operator Cracker Barrel Old Country Store, according to UC4's website.
Regulators are expected to approve of EQT's purchase of UC4 during the fourth quarter, the Swedish company said.
Information from Bloomberg News was included in this report