Iris goes up for sale
After months of speculation and denials, Iris finally confirms that it will go up for sale
Iris , the accounting
software group, has been put up for sale after months of rumours about its
future.
The company announced today that it had appointed
UBS to advise on the sale of
the business and that it had already received interest from private equity
buyers and ‘the international professional publishing sector’.
The company has vociferously denied that the takeover speculation that has
been circling the business since the start of the year, but has finally
confirmed that it is now in play.
Iris, lead by chief executive Martin Leuw, has been backed by private equity
groups Hg
Capital and LDC. It is estimated that the company could go for as
much as £250m.
‘The priority has always been to manage these transitions in a way which
maintains our total focus on our customers’ needs for a stable relationship with
their software partner,’ said Leuw, who just a few months ago had described
takeover talk as ‘faceless’.
Further reading:
Iris put up for sale for £250m
Suitors line up to bid for Iris