Iris Capital has agreed to exit the communication and management services provider by divesting its stake to employee services provider Edenred.
Edenred, a provider of employee services to corporations, has agreed to increase its stake in ProwebCE, a France-based local provider of communication and management services for works councils.
Corporate-backed venture firm Iris Capital and Edmond de Rothschild Investment Partners will sell their stakes to Edenred, in the process exiting ProwebCE, in which they imvested alongside Edenred in 2012.
The 2012 investment was part of a reorganisation through which ProwebCE’s majority stakeholder, ProwebClub, wholly acquired the company. Edenred is being supported…
