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Oakley Capital buying Spanish software business Ekon

Private equity firm Oakley Capital Investments Ltd. made its first investment in the Spanish market with an agreement to buy business software provider Ekon from Unit4 NV.

Financial terms of the transaction were not disclosed.

Ekon provides enterprise resource planning software to businesses in Spain. Its software suite includes solutions for finance, payroll and CRM, as well as dedicated vertical modules for manufacturing, wholesale, health, retail and construction. Oakley said the deal fits into its wider strategy of investments in the technology, media and telecommunications sector.