Apax-backed Zellis to acquire Benify: Bloomberg

The news: Apax Partners-backed payroll software company, Zellis, is nearing a deal to acquire employee benefits platform Benify from Vitruvian Partners, Bloomberg reported citing unnamed sources.

The numbers: The deal, expected to be announced in coming days, will value Benify at “several” hundred million dollars, the publication said. London-based Vitruvian manages €16 billion ($26 billion) in assets and has been working with Deutsche Bank on the sale. Apax agreed to acquire Zellis from Bain Capital in April for £1.25 billion.

The context: The transaction comes amid a surge of deal activity in the European tech sector, with other recent moves including EQT’s purchase of a majority stake in waste management software provider AMCS and Bridgepoint's potential bid for Esker SA.