One of the biggest deals in the business software sector this year was announced yesterday (22/09/2026), with the international private equity firm Hg agreeing to acquire a 70% stake in EntersoftOne, part of Panos Germanos’ Olympia Group, at a valuation approaching €1 billion.
Hg manages more than €110 billion in assets and has built some of Europe’s leading companies in the sector, with 60 active investments across Europe and the US. When a global private equity firm of Hg’s standing invests in a Greek company at a valuation approaching €1 billion, it is a strong international endorsement of the value created.
That was also the message delivered by Panos Germanos himself, who addressed more than 100 company executives who gathered to hear from the management about the completion of the mega-deal. Also present were Antonis Kotzamanidis, CEO of EntersoftOne, Andreas Athanasopoulos, CEO of Olympia Group, as well as senior Hg executives.
Mr Germanos described the achievement as “a miracle.” According to sources, he told executives that they had accomplished something exceptional: not only had they successfully completed a challenging merger, but they had also attracted the attention of a major global player.
At the same time, however, he highlighted the challenges that come with the transition. EntersoftOne will now move beyond the “comfort zone” of the domestic Greek market and compete on the global stage, where the rules of the game are different. It will, however, have access to Hg’s expertise and resources, providing the tools and support needed to succeed.
Sources also indicate that CEO Antonis Kotzamanidis will remain in his position, along with the company’s entire management team.
Inside the Mega-Deal
The Hg-EntersoftOne deal highlights both the growing strength of the business software sector in Greece and the business acumen of the company’s shareholders.
According to sources, discussions between Hg and Olympia began around nine months ago, with Andreas Athanasopoulos, CEO of the group, closely involved throughout the entire process, from the first day to the last.
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