France's Cegid and Silae to merge in €10 billion software deal

Sept 9 (Reuters) - French business software provider Cegid and payroll platform Silae said on Wednesday they were planning to merge to create a European technology group valued at more than €10 billion ($11.6 billion).

Private equity firm Silver Lake, which is the majority owner of both companies, will retain a majority interest in the combined group, to be led by newly appointed CEO Christian Pedersen. The transaction is expected to be closed in the first half of 2027, the companies said.

($1 = 0.8601 euros)

(Reporting by Hugo Lhomedet. Editing by Milla Nissi-Prussak)