TeamSystem’s software suite, used by professionals and enterprises, served nearly 2 million clients across Southern Europe as of August.
Recent Developments and Investments
San Francisco-based Hellman & Friedman, which became the majority shareholder of TeamSystem in 2016, recently sold minority interests in TeamSystem to the Abu Dhabi Investment Authority and Alphabet Inc., the parent company of Google.
CapitalG, Alphabet’s independent growth fund, and the sovereign wealth fund of Abu Dhabi invested in TeamSystem in August. The investments came a few months after investment giant Silver Lake acquired a minority stake in the Italian company for €600 million ($650 million) in May 2023.
Hg on July 1 sold a majority stake in German cloud computing company F24 to private equity firm Altor, raising £18.4 million for the trust. Additionally, HgCapital agreed to invest £44.2 million in German insurance brokerage platform GGW Group in February, alongside other institutional clients of Hg.
