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The Carlyle Group agrees to acquire Livingstone Technologies Limited

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Reading, UK, 4 June 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces that it has agreed to acquire a majority stake in Livingstone Technologies Limited (Livingstone) from a group of its founding investors. Equity for the investment will come from Carlyle Europe Technology Partners III and Livingstone’s management team will retain its current stake in the company. Financial terms of the transaction are not disclosed.

Livingstone is the largest independent provider of Software Asset Management (SAM) Managed Services in the UK. Founded eight years ago in Reading, UK, the company delivers SAM intelligence to its customers so that they can closely manage their software licences and achieve cost savings, quantifiable risk mitigation, licence optimisation and vendor audit readiness. This is realised through Livingstone’s blend of services, proprietary technology and substantial vendor expertise across major software publishers. Livingstone currently has a wide range of international blue-chip customers across many industry sectors including financial services, industrials, telecoms, automotive, retail distribution and consumer products.

Tim Green, CEO, Livingstone, said: “Managing software is becoming more challenging as it is now delivered, accessed and used through a range of devices on premise and via the cloud. With software licensing metrics becoming more complex and software costs continuing to rise, SAM is a key area of risk for many large organisations. Our independent approach to managing software, using a combination of compelling proprietary technology with in-house licensing expertise and processes, is well-positioned to take advantage of the increasing demand for sophisticated SAM Managed Services. We look forward to working with Carlyle as our new partner as they support our plans for continued growth and expansion.”

Fernando Chueca, Managing Director, The Carlyle Group, said: “Livingstone is an attractive, profitable business with a strong track record of establishing and growing relationships with large enterprise customers. The company has an innovative approach to SAM services and we believe that Carlyle’s experience, supporting European technology companies, combined with our global footprint, scale and networks will help Livingstone further expand its presence and broaden its relationship with blue-chip customers. We look forward to working with Tim and his team on the company’s next growth phase.”