Private equity firm Advent to acquire Certisign - reports

Thursday, June 30, 2011

US private equity fund Advent is said to be negotiating the acquisition of Brazilian digital certification company Certisign, news site Baguete reported.

Negotiations are reportedly in their final stages and could be closed in the coming weeks. The transaction is valued at 300mn reais (US$192mn).

The sale has reportedly received financial advice from Virtus BR, founded by former president of Brazilian development bank BNDES Eleazar de Carvalho Filho.

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Founded in 1996, Certisign was the first digital certification authority to start operating in Brazil and third in the world, according to the company's website.

Advent, founded in 1984, focuses exclusively on private equity, primarily buyouts. The company operates from offices in 17 countries with US$26bn in cumulative capital raised.

Advent has been investing in Brazil since 1997. To date, the fund has made 15 investments in the country across multiple sectors, including food and beverage, business services, financial services, technology and telecommunications. Their current fund - LAPEF V, capitalized at US$1.65bn - is one of the largest private equity funds dedicated to Latin America.