Transaction Details

June 4, 2018
London

Sector

Technology

Deal Type

M&A

Deal Value

N/A

Deal Team

Stephen Georgiadis, Declan O'Connor, Mitchell Parr

GCA Altium advises Livingstone on its sale to Carlyle

GCA Altium acted as exclusive financial advisor to Livingstone Holdings Limited, the leading independent provider of software asset management services, on its sale to The Carlyle Group.

Founded in 2010, Livingstone offers a full range of services covering all major enterprise software vendors. The company works with clients to collect and analyse information in order to establish their effective licence positions, determine if software usage is higher or lower than legally contracted, address any related issues, and create a framework to optimise their software deployment over time.

Livingstone has delivered strong revenue and EBITDA growth over the past few years and now provides software asset management services to a blue-chip, global enterprise customer base spanning multiple sectors and countries.

Tim Green, CEO, Livingstone, said: “Software licensing terms are becoming more complex and software costs continue to rise. Software asset management is increasingly perceived as a key area of risk for many large organisations. Our independent approach and compelling proprietary technology is well positioned to take advantage of increasing demand for sophisticated software asset management tools. We look forward to working with Carlyle as our new partner as they support our plans for continued growth and expansion.”

Fernando Chueca, Managing Director, The Carlyle Group, said: “Livingstone is an attractive, profitable business with a strong track record of establishing and growing relationships with large enterprise customers. The company has an innovative approach to software asset management services and we look forward to working with Tim and his team on the company’s next growth phase.”

Stephen Georgiadis, Managing Director at GCA Altium, said: "We are delighted to have advised the Livingstone team on securing a financing partnership with Carlyle, the leading technology investor, and we look forward to seeing the company continue to grow as one of the leading participants in the software asset management sector.”

Livingstone is a prime example of a company using proprietary technology to deliver a managed services offering in a highly efficient and profitable business model. The transaction represents GCA's 12th tech-enabled services transaction in 2018 to date, reinforcing our reputation as one of the leading M&A advisors in this sector.

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