Atlantic Bridge Ventures has led a consortium of private equity buyers in the acquisition of LogicaCMG's Telecoms Products business for a cash consideration of £265m. Telecom Products, to be renamed Acision, is a provider of converged mobile messaging solutions for text and multimedia messaging for 300 customers, who serve over 1 billion consumers worldwide. The Reading-based company employs approximately 1,700 people across 22 countries and in 2005 generated EBITDA of £23m on revenues of £254.7m.
High-net-worth individuals and family offices are hunting for yield, concerned about low interest rates and market volatility
Fund expects to hit its target in the first quarter of 2020 and has already made six investments
Soprome and BTC Capital also back the takeover of the security services company
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