UK's ACS Pays $165M For PE-Backed Legal Software Unit

Law360, New York (March 8, 2013, 1:52 PM EST) -- Advanced Computer Software Group PLC has put up £110 million ($165.4 million) for private equity-backed Computer Software Holdings, one of the U.K.'s top software providers catering to the legal and not-for-profit industries, the buyer said Friday.

The transaction lifts CSH ownership from HgCapital, which spun out the company from its parent, Iris Software Group, with an eye toward selling it as a standalone asset. ACS said it financed the purchase using a mix of on-hand cash, proceeds from a recent £44 million share issue and new...
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