BlackRock Is Said to Near Deal to Acquire Bridgepoint’s EFront
Bloomberg – BlackRock Inc. is nearing a deal to acquire eFront, the French software provider owned by Bridgepoint Advisers, people familiar with the matter said.
An announcement may come as soon as the next few days, according to the people, who asked not to be identified because the information is private. Bridgepoint has been discussing a valuation of more than $1.3 billion for eFront, one of the people said.
Bridgepoint acquired eFront for 300 million euros in 2015, and the company has broadened its offering since, according to its website. EFront’s software helps private equity firms, real estate investors and other financial customers analyze their performance and fundraising, monitor and collect data on their portfolios, meet accounting and regulatory obligations and communicate with investors.
No final decision has been made, and Bridgepoint could still choose a different bidder, according to the people. BlackRock has been competing with IHS Markit Ltd. and private equity firms, people with knowledge of the matter said earlier.
A representative for BlackRock couldn’t immediately comment. A representative for Bridgepoint declined to comment.
Bloomberg LP, the parent of Bloomberg News, competes with IHS and eFront in providing financial news, analytics and information.