19th Mar 2019 09:06
LONDON (Alliance News) - The manager of HgCapital Trust PLC on Tuesday said it has sold visual effects developer Foundry for GBP410 million in cash.
Foundry has been sold to New York-listed technology company Roper Technologies. Hg, HgCapital Trust's manager, said Foundry provides software for visual effects in films.
Hg invested in Foundry in 2015. HgCapital Trust, which participates in Hg investments, will get cash proceeds of GBP28.0 million in the deal.
Hg Senior Partner Nic Humphries said: "Foundry is a business with a 20-year history of growth and innovation. Hg has built on the company's strong development capabilities to drive enterprise adoption of the digital design offering and pioneer revolutionary new products such as Athera.
"We've enjoyed working with the team over the last four years and wish the team well as they continue their growth journey as part of Roper Technologies."
HgCapital Trust shares were 0.5% higher on Tuesday at a price of 2,130.00 pence each.
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