SOFIA (Bulgaria), October 3 (SeeNews) – Bulgarian provider of investment management software Dynamo Software said on Tuesday US-based private equity firm Francisco Partners has made a majority investment in the company.
“The investment will provide Dynamo with a capital partner to support the company’s continued growth and product innovation,” Dynamo said in a statement.
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The terms of the deal were not disclosed.
Members of Dynamo management and employees will retain significant ownership stakes in the company, according to the statement.
“Dynamo serves a blue-chip list of over 400 customers who derive tremendous value from the software every day,” Peter Christodoulo, partner at Francisco Partners, said. “With its cloud-based solution, the company is primed to become a leader in the alternative asset management software market,” he added.
Dynamo Software, formerly Netage Solutions, provides industry-specific, configurable investment management and reporting software for the global alternative assets industry.
"We are extremely excited to announce this investment by Francisco Partners,” said Krassen Draganov, founder and CEO of Dynamo Software. “Thanks to their prior investments in the alternative asset management software market, they bring to bear highly relevant experience and are uniquely suited to help us accelerate our growth from here forward.”
Francisco Partners is a global private equity firm, which specializes in investments in technology businesses. Since its launch over 17 years ago, Francisco Partners has raised over $10 billion (8.5 billion euro) in capital and invested in over 200 technology companies.
($ = 0.8516 euro)