Apax’s Zellis to Acquire Employee Benefits Platform Benify (1)

Zellis Group, the payroll software maker backed by Apax Partners, will acquire employee benefits platform Benify as deal activity in the European technology sector accelerates.

Investment firm Vitruvian Partners is selling Benify after owning the business since 2011, according to a statement Tuesday, which confirmed an earlier Bloomberg News report. The deal values Benify at €300 million ($331 million) to €400 million including debt, people with knowledge of the matter said.

Zellis plans to combine Benify with its own benefits administration platform Benefex, it said in the statement. Vitruvian and the Benify founders will continue to support ...