Apax Partners-backed Fibonacci Group has acquired Quid Group and its subsidiary Cabel, aiming to strengthen its position as a leader in European financial software.

Target Information

The Fibonacci Group, backed by Apax Partners LLP, has announced the acquisition of Quid Group, a prominent name in consumer credit software, along with its subsidiary Cabel, a provider of core banking software and Banking-as-a-Service (BaaS) solutions. Founded in 1987 and headquartered in Florence, Quid has made significant strides in supporting tier 1 financial institutions and specialty service providers. In 2023, Quid successfully acquired a majority stake in Cabel Industry, marking its expansion into core banking solutions.

This acquisition follows Equinox's strategic support for Quid since 2019, during which Quid transformed from a system integrator to a fully realized software house. Under Equinox’s stewardship, Quid tripled both its revenue and profitability by enhancing operational efficiencies and pursuing organic growth.

Industry Overview

The financial software industry in Italy has witnessed notable growth, with players increasingly focusing on technological innovation to meet the demands of an evolving market. As financial institutions aim for greater efficiency and custo