IRIS to Acquire Dext Software Ltd.
Deal News | Dec 10, 2024 | Goodwin
IRIS Software Group is set to acquire Dext Software Ltd, a cloud-based bookkeeping platform, from Hg Capital and Insight Partners. The acquisition aims to merge Dext's automation platform with IRIS Elements to provide an integrated solution for accountants and bookkeepers. This transaction will allow IRIS to enhance Dext's product development and increase its partner integration across numerous financial platforms. Hg Capital, a global private equity firm with significant investments in specialist software companies, is facilitating the transaction. Goodwin's Private Equity M&A team, led by Gemma Roberts among others, is advising on the deal.
Sectors
- Private Equity
- Software as a Service (SaaS)
- Finance and Accounting Solutions
Geography
- United Kingdom – The principal transaction involves IRIS Software Group and Hg Capital, both of which are based in the UK.
- Global – Hg Capital operates globally with offices across London, Munich, New York, Paris, San Francisco, and Singapore, affecting global markets through its transactions.
Industry
- Private Equity – The transaction involves Hg Capital, a prominent private equity firm facilitating the sale of its stake in Dext Software Ltd.
- Software as a Service (SaaS) – Dext Software Ltd and IRIS Software Group both provide cloud-based software solutions, particularly in the accounting industry.
- Finance and Accounting Solutions – The article discusses companies providing bookkeeping and accounting services, which directly relate to finance and accounting solutions.
Financials
- – The financial details of the transaction (e.g., transaction amount) are not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IRIS Software Group | Bidding Company | Company | A leading provider of business-critical software and services. |
| Dext Software Ltd | Target Company | Company | A cloud-based bookkeeping automation platform. |
| Hg Capital | Selling Company | Company | A global private equity firm specializing in investments in software and service providers. |
| Insight Partners | Selling Company | Company | A minority shareholder in Dext Software Ltd involved in the sale. |
| Goodwin Procter LLP | Legal Advisor | Company | A global law firm advising Hg Capital on the transaction. |