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Bahrain-based alternative investment firm Investcorp will sell its majority stake in Shine, a European unicorn and digital platform for small and medium-sized businesses to Cegid, a cloud management and AI solutions business majority owned by Silver Lake.
The deal will go through its subsidiary, Investcorp Technology Partners (ITP).
Financial details of the transaction have not been disclosed.
The Denmark-based Shine (formerly Ageras) is a provider of integrated digital solutions spanning company creation, invoicing, daily banking, and accounting for SMB. The company has customers across Europe, France, the DACH region, the Netherlands and Denmark.
Investcorp first invested in Shine in 2017.
The transaction remains subject to regulatory approvals.
(Writing by Bindu Rai, editing by Seban Scaria)
