Private equity firm EQT has acquired Austrian IT process automation software company UC4 Software from The Carlyle Group for 220 million euros ($270 million).

EQT is one of the leading private equity groups in Northern Europe with nearly 18 billion euros in raised capital. The firm recently acquired luxury smartphone brand Vertu from Nokia, although the Finnish phone maker retained a 10 percent stake.

Billed as the world’s largest independent IT process automation software company, UC4 helps enterprises move their systems to the cloud and Big Data platforms.

The company claims it automates ‘tens of millions of operations’ a day for over 2,000 customers worldwide.