Hg and Intermediate Capital Group (ICG) portfolio company Iris Software Group has bolted on BioStore, a UK-based provider of ID verification and cashless payment systems to the education sector.
GP takes a minority stake in the IT service, while the management team remain on board
Existing investors E.Ventures and Heartcore also participate in the funding round
Transaction involves four remaining assets, including Genesys, eDreams and Asia Broadcast Satellite
Existing investors Velocity Capital, Industrifonden and Frumtak also participate