London, 16th March: Providence Equity Partners agreed to a deal to acquire Hyve Group. The deal values Hyve at approximately £481 million (US$586 million). An earlier, slightly lower bid had been reportedly rejected by Hyve’s board.

Providence Equity Partners also has held a majority stake in CloserStill Media for the past five years. In the past, Providence has also owned and subsequently sold stakes in Clarion Events and GLM. Hyve’s portfolio covers retail, fintech, education, natural resources and manufacturing. The group organises over 30 physical and 20+ online events each year.