Editor’s Note
This article discusses the acquisition of German software firm Diamant by London-based private equity investor Hg Capital. The deal highlights continued consolidation in the European enterprise software sector.
Software company Diamant Software GmbH is getting new owners. The provider of accounting and controlling solutions for medium-sized businesses and public institutions in Germany is being acquired by the London-based private equity firm Hg Capital, Europe’s largest software investor with over $100 billion in assets under management.
Founders of the Bielefeld-based company are selling their shares. Founder Peter Semmerling and his son Jan Semmerling stated they intend to work closely with Hg and will remain significant shareholders of the company, which is headquartered in Bielefeld and employs 300 people.
Together, Hg and the Semmerling founding family aim to further develop the Diamant Cloud Software in the AI era. The primary focus will be on expanding customer service and strengthening sales partners.
The core products include financial accounting, controlling, and group accounting. The terms of the transaction were not disclosed, and the deal is subject to customary closing conditions.