Cinven in Exclusive Talks for Data Services Firm Artefact (1)

Private equity firm Cinven is in exclusive negotiations to acquire Artefact, a provider of data and artificial intelligence consulting services.

The transaction is subject to regulatory approvals, according to a statement on Monday that confirmed an earlier Bloomberg News report. The deal values the French company at more than €1 billion ($1.2 billion), Artefact’s majority owner Ardian said in a separate statement.

Paris-based Artefact is a consultancy that offers data services for more than 1,000 clients globally, including BNP Paribas SA, Carrefour SA, and Unilever Plc, its website shows. It has offices across 25 countries. An Ardian-led consortium ...