Swedish investment firm EQT Group has made a “number of unsolicited” non-binding proposals to acquire United Kingdom-based Alfa Financial Software Holdings that would value the fintech at $772.86 million.
The firm, which has $227 billion in total managed assets and specializes in private and growth equity, infrastructure, real estate and venture capital in Asia, Europe and North America, has until July 7 to make a firm offer for Alfa in accordance with the Takeover Code, according to an Alfa release. The Takeover Code is a binding set of rules designed to supervise and regulate mergers and acquisitions in the UK.
Alfa was not available for additional comment by press time.
Alfa provides software-as-a-service solution to the auto and equipment finance industry and logged $116.75 million in revenue in 2022, an increase of 12.1% year over year, according to the company’s website.
The fintech works with Toyota Financial Services, Santander, John Deere Financial Services, PACCAR, Mercedes-Benz, and Daimler Trucks, among others, according to the company’s website.
EQT’s portfolio currently includes SaaS provider Mambu and payments platform Mollie, according to the company’s website.