EQT has acquired 100 per cent of software group UC4 from Carlyle Europe Technology Partners for an enterprise value of €220m.
UC4 is one of the world's largest independent IT process automation software vendors with some 2,050 blue chip customers including more than 70 of the Global Fortune 500 list.
The Austrian and US-based software group was purchased by Carlyle in March 2006, whose investment allowed the company to develop from a regionally focused IT job scheduling vendor to a global provider of automative IT services, generating revenues of €62m over the past fiscal year. Carlyle's backing also allowed UC4's 2009 takeover of business processing company Senactive.
This acquisition is the fourth from EQT's sixth fund, which reached a final close of €4.75bn after just nine months in October.
The fund's previous acquisitions include hygiene company Anticlimax and telecom operator Broadnet in 2012, as well as 2011's purchase of medical device company Atos.
EQT VI plans to continue expanding UC4, as it competes with the likes of IBM and BMC, while maintaining the company's focus on the rapidly growing cloud automation market.