UK - KKR completes £593m take-private of Northgate

NIS Acquisitions, a newco formed by KKR to complete the transaction, will pay 95 pence per share for the entire issued and unissued share capital of Northgate, a premium of over 60% on the closing price of 59.25 pence per share on 11 December 2007, the day before the company announced it had recieved an approach. The deal will see the Northgate directors and GAP North Ltd, a subsidiary of General Atlantic, exit their respective stakes in the business, representing collectively around 19.9% of the issued share capital.

Northgate is a specialist provider of software, outsourcing and information technology services to the human resources, local government, education and public safety markets. It currently operates from offices in 46 countries globally and employs almost 6,500 staff.

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• UK / Ireland
• Technology