22nd Dec 2015 11:56
LONDON (Alliance News) - HgCapital, the private equity manager of London-listed HgCapital Trust PLC, on Tuesday said it has invested in Zitcom and ScanNet, two Danish hosting and cloud computing providers.
HgCapital Trust said it will invest about GBP3.2 million in the Danish companies. The total investment by the manager, which was made in partnership with Stefan Rosenlund, Zitcom co-founder and chief executive, was not disclosed. Other institutional clients of the manager are participating in the investment through the Mercury TMT Fund, HgCapital said.
"The combination of Zitcom and ScanNet will create a business with a leading position in both mass and managed hosting markets for SMEs in Denmark," HgCapital said.
The combined acquisitions of Zitcom and ScanNet represent the seventh investment by the Mercury TMT Fund, which will have invested about 45% of its asset following completion of the deal.
Based on its net asset value on November 30, the trust said its liquid resources available for future deployment are estimated at GBP84.2 million.
The latest investment reduced the trust's remaining commitment to invest in HgCapital deals to about GBP154.0 million.
Shares in the trust were down 0.3% at 1,091.96 pence late Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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