Asian Tech Press (Dec 17) -- U.S. private equity firm KKR & Co Inc announced Friday that it has signed an agreement to acquire software firm Yayoi Co Ltd. from Japanese leading financial services provider ORIX Corp.

Earlier, Orix said it had not yet made a decision to sell its stake in software busines Yayoi to KKR.

According to the announcement, the transaction is expected to close on March 1, 2022, subject to regulatory approvals and customary closing conditions. And further details of the investment have not been disclosed.

Yayoi, acquired by Orix in 2014 for more than 80 billion yen ($705 million), is a leading provider of financial and accounting software for small and medium-sized businesses in Japan.