Bain Capital is acquiring a majority stake in Italian software company Namirial SpA from private equity firm Ambienta.

The deal values Namirial at €1.1 billion (US$1.2 billion), according to sources familiar with the transaction.

Namirial’s founder Enrico Giacomelli and CEO Max Pellegrini, along with the management team, will retain a significant stake in the company.

The transaction is expected to be officially announced this week.