LONDON, Dec 23 (Reuters) - European software investor Hg
Capital Trust said on Monday it would acquire Germany's Personal
& Informatik, a provider of cloud-based HR software, from a
group of funds advised by Permira for an enterprise value of 2
billion euros ($2.22 billion).
The acquisition will be made via Hg Saturn 1 Fund, which
focuses on software businesses with enterprise values of more
than 1 billion pounds ($1.30 billion), Hg said in a statement.
It did not disclose how much it would be investing in total.
The Permira funds will remain invested in P&I with a
substantial minority stake, according to the statement.
($1 = 0.9022 euros)
($1 = 0.7683 pounds)
(Reporting by Abhinav Ramnarayan, editing by Louise Heavens)