Private equity firm Welsh, Carson, Anderson & Stowe is reportedly on the brink of exiting US-based software provider Triple Point Technology to Ion Trading for $800m for a return multiple of 1.6 times.
The deal between Welsh and TA Associates-backed Ion could be announced within a month, said Bloomberg, citing people with knowledge of the matter.
The sides have yet to reach a final agreement and there is no guarantee that the deal will be done, said the sources.
Welsh Carson acquired Triple Point for $500m in October 2011. In April it was reported that the firm was looking to sell it for at least ten times its expected annual pre-tax profits of $75m and had hired Barclays and Deutsche Bank to help find a buyer.
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