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Apax offloads Technology portfolio to Azini

Azini Capital backed by Lexington Partners and Greenpark Capital acquired Apax Partner’s Technology portfolio of growth and development stage technology companies.

Acquired companies include Starhome, an Israeli roaming solutions company which produces software that allows mobile network operators to capture and mange mobile phone customers who are outside of their home country. Another, Mobixell Networks, based in the US and Israel, enables internet, broadband, video, messaging and advertising on mobile phones. Mobixell has recently acquired US-based 724 Solution.

Corvil, a latency management systems for securities trading company, based in Ireland is also included, as is Digital Fuel, which operates in the IT financial management segment, allowing financial directors to manage IT-related costs, budgeting, planning and service levels.

Other companies include Frontier Silicon, Bolero, Centerbeam, BlueArc and Crescendo Networks. “Overall the companies are fairly mature. Apax hasn’t done any early-stage deals in a while, meaning even at the original investment the companies were reasonably developed,” said Nick Habgood at Azini Capital. “They are all profitable and cash-generative, with around a $20m to $60m turnover each.”