Reading, UK, 4 June 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces that it has agreed to acquire a majority stake in Livingstone Technologies Limited (Livingstone) from a group of its founding investors. Equity for the investment will come from Carlyle Europe Technology Partners III and Livingstone’s management team will retain its current stake in the company. Financial terms of the transaction are not disclosed.
Livingstone is the largest independent provider of Software Asset Management (SAM) Managed Services in the UK. Founded eight years ago in Reading, UK, the company delivers SAM intelligence to its customers so that they can closely manage their software licences and achieve cost savings, quantifiable risk mitigation, licence optimisation and vendor audit readiness. This is realised through Livingstone’s blend of services, proprietary technology and substantial vendor expertise across major software publishers. Livingstone currently has a wide range of international blue-chip customers across many industry sectors including financial services, industrials, telecoms, automotive, retail distribution and consumer products.
Tim Green, CEO, Livingstone, said: “Managing software is becoming more challenging as it is now delivered, accessed and used through a range of devices on premise and via the cloud. With software licensing metrics becoming more complex and software costs continuing to rise, SAM is a key area of risk for many large organisations. Our independent approach to managing software, using a combination of compelling proprietary technology with in-house licensing expertise and processes, is well-positioned to take advantage of the increasing demand for sophisticated SAM Managed Services. 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 SAM services and we believe that Carlyle’s experience, supporting European technology companies, combined with our global footprint, scale and networks will help Livingstone further expand its presence and broaden its relationship with blue-chip customers. We look forward to working with Tim and his team on the company’s next growth phase.”
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Livingstone Technologies Limited (Livingstone) is an independent, data and tool agnostic provider of Software Asset Management (SAM) Managed Services and a trusted partner to complex multinational corporations. We combine proprietary technology, large vendor licensing expertise and proven methodologies to produce accurate SAM intelligence.
Rapid onboarding of our managed service means that we can deliver comprehensive reports within the first six weeks of an engagement. The reporting helps CIO/CTOs, IT Procurement, SAM and ITAM professionals, make smart business decisions on software.
Our customers are our greatest advocates and represent some of the world’s largest and most complex organisations. For them, we have delivered hard cost savings, quantifiable risk mitigation, licence optimisation and vendor audit readiness.
Livingstone is headquartered in Reading, UK with operations in the US and the Asia-Pacific region.
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defence & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.
Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.
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