French business software company Cegid and payroll platform Silae said on Wednesday they plan to merge, creating a European technology group valued at more than €10 billion ($11.6 billion).
Private equity firm Silver Lake, which owns majority stakes in both companies, will retain majority control of the combined business.
The new group will be led by Christian Pedersen, who has been appointed chief executive. The companies said they expect the transaction to close in the first half of 2027.
The merger is expected to create one of Europe’s largest providers of business management and payroll software as demand for digital services continues to grow.
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