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.
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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
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