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Mid Europa Acquires intive

11 December 2018

Mid Europa Partners ("Mid Europa"), the leading private equity investor in Central and Eastern Europe ("CEE"), announced today that it has entered into an agreement to acquire intive S.A. ("intive" or the "Company") from Enterprise Investors. The transaction is subject to customary competition clearance and is expected to close in Q1 2019.

intive is a leading international provider of software development services with over 1,600 qualified specialists in 19 offices worldwide. Combining design and technology, intive has become the digitalisation partner of choice for many international corporations across multiple industry verticals including automotive, high-tech, industrial, media, as well as consumer and financial services.

Kerim Turkmen, Partner of Mid Europa said: "We are excited to be teaming up with intive's management team and have been particularly impressed by the Company's highly-skilled workforce and their ability to develop best-in-class software and digital applications for leading companies worldwide. Combined with a strong reputation and a unique geographical delivery footprint, intive is well-positioned to continue benefiting from the accelerating digital transformation trend driving the demand for software engineering and design services."

Robert Knorr, Co-Managing Partner of Mid Europa, commented: "We like to invest in companies able to leverage their CEE heritage, competitive advantages and talent when expanding internationally. Mid Europa will support intive's creative and ambitious team in building a truly global player in next-generation technology."

Ludovic Gaudé, CEO of intive said: "Mid Europa has a long and successful track record of supporting high growth companies and driving industry consolidation. On behalf of the Company, I am pleased to welcome them as a strong partner for the next phase of intive's development, leveraging Mid Europa's international network to drive our expansion on a pan-European and global level."

The transaction was executed by Pawel Caruk, Rustam Kurmakaev and Maciej Michalak.

Advisers to Mid Europa were William Blair and Avendus (M&A), White & Case, Clifford Chance and Dechert (legal), BCG (commercial) and PwC (financial and tax).

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