UK - HgCapital sells IRIS and CSG in £500m deal
HgCapital has sold IRIS Software, a provider of software to accountacy practices, and Computer Software Group (CSG), a provider of software to legal practices, to Hellman & Friedman for £500m. Hellman & Friedman plans to merge the two entities. HgCapital acquired IRIS in July 2004 and CSG earlier this year. CSG was one of four acquisitions made by IRIS during its ownership by HgCapital. UBS Investment Bank acted as financial adviser to HgCapital.
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