3i Group to make 2.1x its money with TouchTunes sale

3i Group plc said Thursday it sold its stake in TouchTunes to Searchlight Capital. 3i said it would receive 38 million pounds (US$57 million) in proceeds. New York-based TouchTunes is a digital jukebox maker. With the sale, 3i said the deal represents an IRR of 22 percent and a 2.1x money multiple on its original investment of 24 million pounds ($40 million).

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