Prophix Software, a global leader in Corporate Performance Management (CPM) software, announced an investment from Hg, a leading global software investor. The deal values the company at between $500m and $600m.
This deal will result in Prophix employees and management participating to acquire the company alongside Hg, who will hold the majority investment. This will allow staff to benefit more directly from the organization’s ongoing growth.
This partnership with Prophix reinforces Hg’s focus on mission-critical B2B software sitting at the intersection of Hg’s experience in ERP and Tax & Accounting. This transaction represents Hg’s seventeenth investment in this space in the last 16 years, with total invested capital of over $3.5 billion.