Global design firm Stantec has signed an agreement to sell its Innovyze software business for $270 million to the investment firm EQT Mid Market US fund, the Alberta-based parent said on March 21.
Innovyze joined Stantec in 2016 through the Canadian firm's nearly $800-million acquisition of global water services firm MWH of which the software firm was a part. The Innovyze sale is set to close in in the second quarter, Stantec said.