Ion closes in on €1.5B deal to acquire banking software firm Cedacri – Reuters

Ireland-based Ion Investment Group Ltd. is close to reaching a deal to acquire Italian banking software provider Cedacri for about €1.5 billion, Reuters reported Jan. 27, citing two sources familiar with the matter.

The financial data and technology company is said to be currently negotiating the final terms of its offer for Cedacri after emerging as the winning bidder in an auction process launched in 2020, one of the sources told the newswire.

Dublin-based IT consultancy Accenture PLC and Italian IT services provider Engineering have now withdrawn from the process, according to the sources. A consortium of private equity firm Apax Partners LLP and Italian digital services group Reply also showed interest in Cedacri but reportedly dropped out from talks in November 2020.

Deutsche Bank led the sale process of Cedacri, whose shareholders include Unipol Gruppo SpA and Banca Mediolanum SpA, the report noted.