Skadden, Arps, Slate, Meagher & Flom, Linklaters and Kirkland & Ellis have won roles advising on the world’s largest-ever software buyout deal, as private equity firm Hg invests in European software business Visma in a deal that values the business at $12.2 billion.

Hg’s Saturn 2 Fund will purchase a stake in Visma from Montagu, another European private equity firm, which has been an investor in the business since 2010, and other investors including Hg’s Genesis 7 Fund, which will reduce its holding in Visma.