A significant British supplier of accounting software program backed by Hg Capital is being bought to a different of the personal fairness group’s portfolio firms in a deal price greater than £500m.
The deal could possibly be introduced as quickly as this week, in line with a number of software program trade sources.
Cash newest: The one complement each consultants agrees is price each penny
One mentioned the deal was price about £525m.
Dext, which was beforehand often known as Receipt Financial institution, has greater than 700,000 prospects all over the world.
It operates in a fast-growing space of the software program trade, with synthetic intelligence and complex automation strategies driving fast advances within the sector.
Final yr, Hg offloaded an enormous stake in Iris Software program to Leonard Inexperienced & Companions in a deal valuing the corporate at £3.15bn.
As a part of the transaction, Hg reinvested within the enterprise.
Hg is among the many world’s most profitable buyers in specialist software program firms, reaping returns price billions of kilos from its long-term backing of a string of firms.
A spokeswoman for Hg declined to touch upon Monday.
