Stantec to sell software business Innovyze to EQT for $270 mln
Canada's Stantec Inc (TSX, NYSE: STN) has agreed to sell Innovyze, a U.S. provider of water infrastructure modeling and simulation software solutions, to an affiliate of European alternative investments firm EQT. EQT agreed to pay US$270 million for the business in a deal expected to close in the second quarter. Stantec, an Edmonton professional consulting services company, acquired Innovyze as part of last year's buy of MWH Global Inc. EQT said in a separate release it will support Innovyze's continued growth through a focus on new product capabilities, customer segments and geographies.
21 March 2017•3 mins read
