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PRINT THIS PAGE HgCapital sells IRIS Software and Computer Software Group to Hellman & Friedman15/06/2007. Source: AltAssets. 
 European mid-market private equity investor HgCapital has sold IRIS Software, a UK provider of software to accountancy practices and their customers, and Computer Software Group, a UK provider of software to legal practices and not-for-profit institutions, to Hellman & Friedman for an enterprise value of £500m. HgCapital has announced that it will continue as an active shareholder in the combined business.
HgCapital acquired IRIS in July 2004 and CSG earlier this year.
Nic Humphries, head of TMT at HgCapital, said, 'The success of our investments in IRIS and CSG demonstrates the strength of HgCapital's research-led sector strategy. From 2003 we conducted substantial top-down research to identify the potential of subscription-based SME software business models as a core target area ahead of the market.
'Our ownership of IRIS then gave us a platform to identify complementary investment opportunities, and CSG was a perfect fit, offering a similar business model, a complementary customer base and a complementary management team,' Humphries continued.
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