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May 19, 2022 | M&A, Transactions

Zelig advises CAST on contemplated acquisition by Bridgepoint Development Capital

Zelig is pleased to act as exclusive financial advisor to CAST on its contemplated acquisition by Bridgepoint Development Capital. CAST (Euronext - FR0000072894 - CAS), a pioneer and leader in the Software Intelligence market, and its main shareholders, have entered into exclusive negotiations with Financière Da Vinci, a simplified joint stock company controlled by Bridgepoint SAS.

Zelig is pleased to act as exclusive financial advisor to CAST on its contemplated acquisition by Bridgepoint Development Capital.

CAST (Euronext – FR0000072894 – CAS), a pioneer and leader in the Software Intelligence market, and its main shareholders, have entered into exclusive negotiations with Financière Da Vinci, a simplified joint stock company controlled by Bridgepoint SAS.

The price of 7.55 euros per share values 100% of the share capital and voting rights of CAST at approximately 139 million euros on a fully diluted basis. This price represents a premium of 27% over the average closing price weighted by daily volumes on May 17, 2022, 59% over the closing price of the last 60 calendar days and 68% over the closing price of the last 90 calendar days.

Founded over 25 years ago, CAST provides software intelligence that is essential for digital transformation. Today, CAST leads the Software Intelligence category, achieving for software what the MRI has done for healthcare – unprecedented visibility – to help tame the complexity of the critical software underpinning our lives, societies, and businesses.

CAST technology enables digital leaders to accelerate modernization for cloud, raise the speed and efficiency of Software Engineering, control open-source risks better, and make critical decisions based on accurate software assessments.

Backed by nearly $200 million in R&D, CAST’s rapid analysis technology and its advanced ‘MRI for Software’ drive IT transformation and enable automation at the world’s largest systems integrators, hundreds of Global 2000 enterprises, and government agencies.

“In addition to our attraction to the Software Intelligence market, which is characterized by its criticality, high growth potential and dynamic underpinnings, it was the unique technology and software platforms developed by CAST and the strategic vision of Vincent Delaroche and his teams that stood out for us. We strongly believe in CAST’s ambitious development and transformation project and look forward to supporting the management team in its realization.”
Olivier Nemsguern
Partner in charge of BDC in France

Gide Loyrette Nouel (with a team led by Antoine Tézenas du Montcel) is serving as legal counsel to CAST, Vincent Delaroche and CAST’s management

About Bridgepoint:
Bridgepoint Group plc is a listed international alternative asset manager focused on middle-market companies. With over €30bn of assets under management, the company has over 170 investment professionals covering six sectors (business services, consumer goods, financial services, healthcare, high tech and technology) in Europe, the US and China. Bridgepoint invests with four distinct strategies: Mid-cap, Smid-cap, Growth and Credit.

About Zelig

Zelig is an independent investment banking firm focused exclusively on FinTech and related technologies. With a core team in London, New York and Mumbai, supported by a network of senior advisers around the world, we provide M&A and capital raising advice to entrepreneurs, corporates and investors globally. For more information on Zelig, please reach out to us or visit https://www.zeligfintech.com.

Alexis Kalmanovitz
Managing Partner
+1 646 707 2272
alexis@zeligassociates.com