(Alliance News) - HgCapital Trust PLC on Thursday said its manager has struck a deal worth over USD3 billion to acquire AuditBoard, an audit and compliance-focused risk platform.
HgCapital Trust itself will invest around GBP87.2 million in AuditBoard, with other institutional clients of Hg investing alongside HgT through the Hg Saturn 3 Fund.
"AuditBoard is exactly the type of business we partner best with - one that truly knows its customers and innovates to bring them the best possible products. We can't wait to get started," Hg North America Head Alan Cline said.
HgCapital Trust shares closed 2.3% lower at 482.50 pence each in London on Thursday.
By Eric Cunha, Alliance News news editor
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HgCapital Trust plc (HGT)