Providence to acquire software firm A2Mac1 after winning $1.3B auction

Providence signed an exclusive agreement with A2Mac1’s owner Five Arrows Principal Investments, trumping rival bids from buyout funds EQT (EQTAB.ST) and TA Associates.

Providence’s swoop on A2Mac1 comes as global M&A shrank for the third consecutive quarter this year as rising interest rates have forced lenders to pull back from financing large deals.


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