Deals
Leonard Green to Buy Iris Software Stake at £3.2 Billion Value
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Buyout firm Leonard Green & Partners agreed to buy a stake in Iris Software from Hg in a deal that values the company at about £3.15 billion ($4 billion), marking a rare private equity deal in the tech sector.
Leonard Green will become a co-controlling shareholder of the UK firm alongside Hg, which is reinvesting in the business, according to a statement Saturday. Terms weren’t disclosed. Iris supplies software for the UK accounting, payroll, human resources and education sectors.