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Major South African software company sold to US investor

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Syspro co-founder Phil Duff will retire after 46 years at the company.

Advent International has announced that it has entered into an agreement with Syspro to invest in and acquire a majority stake in the South African-based multinational software company.

Advent International is an experienced investor in the software space. It has investments in enterprise resource planning , financial, and manufacturing software. It has also invested in companies like Medius, which specialises in AP automation, and B2B payments, which provides sourcing and procurement software.

“We are delighted to support the company into a new phase of ambitious innovation and growth acceleration,” said Hallstrom.

 

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