Mid-market private equity group HgCapital is in discussions to purchase IAS, the accountancy and payroll software division of Iris Software Group, from private equity investment firm Hellman & Friedman, Financial Times reports. The buyout house has offered $673 million for IAS, which forms the bulk of the U.K’s largest private business software manufacturer.
HgCapital had sold Iris Software to Hellman & Friedman four years ago. Finalisation of the current discussions is likely to take time and it is possible that the deal may not materialize at all.
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Iris Software Group HgCapital Hellman HgCapital Eyes Iris Software Unit Friedman