Bridgepoint Advisers Ltd. will take majority control of cash-management firm Kyriba Corp. in a $1.2 billion deal, Private Equity News reported, citing people familiar with the matter.
Once the transaction is completed, Bridgepoint will own approximately 75% of Kyriba, the media outlet reported.
Mangrove Capital Partners, Upfront Ventures, Bpifrance SA, Iris Capital and Sumeru Equity Partners have all invested in Kyriba.
Regulators at the Federal Trade Commission have cleared an antitrust review of the deal, PE News reported, citing the agency's database.
Kyriba provides software-as-a-service solutions to company CFOs and treasurers to allow them to optimize and manage corporate cash, bank accounts and liquidity.