LONDON: Hg, Europe’s leading software investor, has entered into an agreement to sell its investment in Trace One to Symphony Technology Group (STG), a news release said.
STG is a Palo Alto-based private equity firm focused on investing in the software, data analytics, and software-enabled technology services sectors.
This proposed sale is subject to French Workers’ Council consultations and customary clearances. The terms of the transaction are not disclosed.
Trace One is the world’s largest collaborative retail business platform for consumer-packaged-goods (CPG).
It provides one SaaS inclusive platform with multiple interlocking business applications, including product lifecycle management, sourcing, and compliance, for 25 leading global retailers and 5,000+ FMCG manufacturers.
Trace One enables customers to create higher quality, trusted, and compliant own-branded goods faster, delivering benefits to their consumers and the environment.
Christophe Vanackère, CEO at Trace One, said: “It’s been so valuable to partner with Hg for just over four years. Together with Hg, the business has implemented several value-add initiatives and we’ve been able to leverage Hg’s operational capabilities throughout their ownership period. We look forward to partnering with STG in the next phase and are excited about the new opportunities this will bring to Trace One and our clients.”
Sebastien Briens, Partner at Hg, said: “Christophe has led a first-class team and we thank them for what has been a great partnership since we first invested. Since then, we have built significant value in the business together, investing in the technology platform and launching several new products whilst transforming the sales and marketing function and go-to-market strategy – all enhancing the customer experience. We wish the team well in partnership with STG going forward.”
“Trace One is the undisputed sector leader serving the world’s leading global retail brands and a network of over 5,000 manufacturers,” said William Chisholm, Managing Partner at STG. “We are thrilled to partner with Christophe and his team, and we are fully committed to driving Trace One’s next phase of growth as the leading SaaS player empowering retailers and their manufacturing partners globally.”