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Apax Global Alpha to acquire 3i Infotech's software business; sells stake in Boats group
StockMarketWire.com
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Investment company Apax Global Alpha said it had acquired the software products business from 3i Infotech, and sold its stake in Boats group to funds advised by Permira.
The company said it expected the acquisition of the software products business from 3i Infotech to close in early 2021 and planned to invest €5.4 million in the newly formed company, which would be named Azentio Software.
The sale of the company's stake in Boats group, an online marketplace and provider of software solutions for the recreational marine industry, was expected to close by the end of Q1 2021, the company said.
The full exit from Apax IX's investment in Boats group was expected to 'deliver a total gross MOIC of approximately 4.2x and a gross IRR [internal rate of return] of approximately 41%, the company said.
Story provided by StockMarketWire.com
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