A Loughborough-based software company is close to becoming more valuable than Sage Group, the FTSE-100 technology champion, as it finalises a deal to sell a stake to a Singaporean state investment fund.
Sky News has learnt that The Access Group, which was founded in 1991, is in advanced talks about a transaction that will value it at about £9bn.
Sources said on Wednesday that Access, which provides business management software to medium-sized companies in the UK, Ireland and Asia, could conclude the deal within weeks.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
It will see the company’s existing private equity backers, Hg and TA Associates, continuing to support the company by reinvesting in it.
Singapore’s Government Investment Corporation (GIC) is expected to become a significant minority shareholder as part of the deal.
Meanwhile, Hg’s stake will be transferred to its Saturn vehicle, which holds its stakes in large-cap software companies.
At a £9bn valuation, Access will be more highly valued than Sage Group, the FTSE-100 software provider.
Source: Sky News
Can’t stop reading? Read more
Quadrivio Group acquires majority stake in Les Secrets de Loly through Made in Italy Fund II
Quadrivio Group acquires majority stake in Les Secrets de Loly through Made in Italy Fund II...
Warburg Pincus explores sale or partnership for Southeast Asian insurer Oona
Warburg Pincus explores sale or partnership for Southeast Asian insurer Oona Warburg Pincus is...
I Squared Capital nears $10bn for flagship infrastructure fund amid sector boom
I Squared Capital nears $10bn for flagship infrastructure fund amid sector boom I Squared Capital...