22nd Sep 2026 10:52
(Alliance News) - Hg, manager of HgCapital Trust PLC, on Tuesday announced a majority investment in Athens-based business software provider EnterSoftone SA.
HgCapital Trust will invest about GBP33.0 million alongside other institutional clients of Hg through the Hg Genesis Fund in a deal that values EnterSoftone at about EUR1.00 billion, Hg said.
EnterSoftone's existing shareholders, Olympia Group and Imker Group, will retain significant shareholdings alongside the management team, led by Chief Executive Antonis Kotzamanidis.
The transaction is expected to close later this year, Hg said. Full terms of the transaction were not disclosed.
Hg said the investment, its first in a Greece-based company, will support EnterSoftone's transition to cloud-based software, accelerate product development and expand into neighbouring markets. Hg Catalyst, its in-house AI product incubator, will support the development of AI-powered products across the platform.
The investment comes as small and medium-sized businesses across Greece adopt digital tools, driven in large part by the country's shift to mandatory business-to-business electronic invoicing under the myDATA framework, Hg said.
EnterSoftone Chief Executive Antonis Kotzamanidis said: "ES1 was built to be Greece's business software champion, and this partnership gives us the resources to go further and faster. Hg understands ERP at a level few investors do, and that will give us a real advantage as we build new products and push deeper into AI."
Hg Partner Alexandre Flavier said: "Antonis and the team have built an outstanding tech platform with a genuine head start in e-invoicing and innovative products loved by its customers. This investment reflects our confidence in the Greek market and our commitment to building an enduring, AI-enabled software champion in the region."
Following the investment, HgCapital Trust's outstanding commitments to invest in Hg transactions will be about GBP2.00 billion. Its liquid resources available for future investment are estimated at GBP276.0 million.
Shares in HgCapital Trust were up 1.0% at 406.50 pence in London on Tuesday morning.
By Niall Holden, Alliance News reporter
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