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Providence Strategic Growth invests in Mapal Software

Providence Strategic Growth Capital Partners LLC, an affiliate of asset management firm Providence Equity Partners Inc., has made an investment in Mapal Software.

Mapal is a Spanish developer and supplier of management and business analytics software for the restaurant and retail industries. It will continue to be led by its founding and existing management team, headed by Jorge Lurueña.

The firm will use the new funding, the amount of which was not disclosed, to support its international expansion strategy through targeted acquisitions in Europe, Latin America and the U.S.

Deloitte Financial Advisory and Baker McKenzie advised Mapal on the transaction.

The lower-middle-market private equity firm, which invests in software and technology-enabled service companies, has also bought I'Car Systems Groupe SAS-DATAFIRST SAS.

Argos Wityu Partners SA sold the French software development company for automotive manufacturers and dealers for an undisclosed sum.

The business will be led by Patrick Prajs, who will be replacing outgoing CEO Philippe Almouzni. Prajs was CEO of DATAFIRST before the company's merger with I'Car Systems.