Wed, 29 Jul 2015 | BUSINESS SALE
US private equity firm Great Hill Partners has bought Reward Gateway, a British software firm which helps companies to reward their staff.
Reward Gateway was owned by Inflexion Private Equity but the firm chose to sell to the US company in the end, but there was significant levels of interest from trade buyers too.
Glenn Elliot, chief executive and founder of Reward Gateway, told Reuters that Reward Gateway was the clear choice, noting that they stood out from a number of potential purchasers and investors due to their technological expertise, understanding of the human resources sector and US presence.
He added: “They got us straight away; they understand the opportunity.”
There is also a good chance that Great Hill will help the company to target new markets and expand into areas such as Latin America.
The business sale values Reward Gateway at £140 million. Because the management and employees in the firm hold a 40 per cent stake, they will receive a windfall that will see all of the 269 employees below board level take a share of around £6.5 million.
Mr Elliot told the news source that he plans to stay with the business after increasing his own stake to around 28 per cent.
View other technology businesses for sale or read our latest feature article looking at the rise of niche technology acquisitions.
Focused on advances in energy storage, energy harvesting motor and drive systems and software. Several projects are approaching proof-of-concept stage and will be ready for commercialisation in the near future. Driven by a highly experienced and qual...
FREEHOLD
Specialises in the supply, installation and servicing of industry-leading, mainly pneumatically operated personnel lifting equipment for the industrial and transport sectors. Operates directly as the sole UK and Ireland distributor for an internation...
LEASEHOLD
Interested parties are required to submit an expression of interest by 5pm on Tuesday 30th July 2019 with offers to be provided by 3pm on Thursday 1st August 2019. An opportunity exists to acquire the business and assets of this division of a highly...
|
23
|
|
Jul
|
Award-winning American diner put up for sale | BUSINESS SALE
An award-winning 50s-style American diner in Albert Village,...
|
22
|
|
Jul
|
Ayr Artwork firm goes into administration | BUSINESS SALE
The Steve Brown art company has announced that it has entere...
|
19
|
|
Jul
|
Outdoor activity centre completes MBO | BUSINESS SALE
An outdoor water activity centre has been successfully sold ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
Jan
|
Hotcourses business sale collapses | BUSINESS SALE
The sale of Hotcourses to Inflexion Private Equity has colla...
|
06
|
|
Jun
|
FDM Group sale process to begin in autumn | BUSINESS SALE
FDM Group, an IT services provider with many household name ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources