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Waterland to merge software companies Ad Ultima, Pylades

Waterland Private Equity Investments BV is bringing business software companies Ad Ultima NV and Pylades together, as part of a strategic investment.

The private equity firm will take a majority stake in the combined entity under the deal.

Belgium-based Ad Ultima offers product life-cycle management, computer-aided design, customer relationship management and document management software. Netherlands-based Pylades provides digital transformation and cloud transition support services.

Separately, Waterland agreed to provide growth capital to the IE Group, composed of Intersoft Electronics and Advionics NV, for an undisclosed sum.

Intersoft Electronics provides components and software for air traffic control radar systems, as well as testing and functional upgrades to existing radars. Advionics, which merged with Intersoft Electronics in 2016, makes integrated circuits and other electronic components for new radar systems.