Team Internet Share News (TIG)

(ShareCast News) - Insurance software provider Innovation Group has agreed to a £499m takeover bid from private equity firm Carlyle Group.Under the agreement, the London-listed company will receive 40p per share in cash, which represents a 13.5% premium to Innovation's closing price on Thursday.Innovation expects the deal to provide an increased financial and operational flexibility, adding it will allow it to accelerate its expansion plans."Carlyle's offer represents a compelling opportunity for Innovation's shareholders to immediately and fully realise the value from their investment, in cash and at a premium," said group chairman David Thorpe.Innovation shares were up 1.94% to 39.50p at 0956 BST on Tuesday.