HG Capital Trust To Sell Stake In Trace One, Mitratech

(RTTNews) - British software investment company Hg Capital Trust Plc (HGT.L) said on Wednesday that it has agreed to sell its investment in consumer-packaged goods retail business platform Trace One to Symphony Technology Group, a Palo Alto-based private equity firm. The terms of the transaction, which needs approval from French Workers' Council consultations and customary clearance, have not been disclosed.

In a separate announcement, HG Capital Trust said that it has agreed to sell legal and compliance software provider Mitratech to the private equity investors Ontario Teachers' Pension Plan Board.

Once the transaction is complete, HG Capital Trust, which was the majority investor in Mitratech since 2017, will keep a minority stake. TA Associates will also sell its minority investment in the business.

The terms of the transaction have not been disclosed and its closing is subject to customary closing conditions.

With the investment from Ontario Teachers', Mitratech will be able to undertake portfolio expansion with corporate legal, risk and compliance, bring about workflow automation and offer better human resources solutions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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