(Alliance News) - HgCapital Trust PLC on Tuesday said it will invest around GBP40 million in financial reporting software provider insightsoftware.
Some of private equity investor Hg's institutional clients will also invest alongside HG's London-listed entity HgCapital Trust. The trust provides investors with access to unquoted firms managed by software and service businesses investor Hg.
In total, insightsoftware has attracted around USD1 billion in investment from Hg. The software firm will continue to be supported by existing shareholders TA Associates, Genstar and ST6 in a transaction valuing the business at an enterprise value of around USD4 billion, insightsoftware said.
Following the investment, TA and Hg will share joint control of insightsoftware.
"insightsoftware has been a rocket ship of growth since TA and ST6 created the business just over three years ago," commented insightsoftware Chief Executive Jim Triandiflou.
"Hg's expertise with enterprise resource planning providers and presence in Europe will add additional fuel to our growth. Together we will be able to give companies around the world the financial confidence to pursue their missions."
Shares in HgCapital Trust were up 0.5% at 382.80 pence on Tuesday morning in London.
By Will Paige; willpaige@alliancenews.com
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HgCapital Trust plc (HGT)