Deal round 18/06/02

3i backs Ascent MBO

3i has provided equity for the £15m management buyout of Ascent Technologies, an IT solutions provider based in Leicester. Royal Bank of Scotland has provided debt for the transaction, with Pricewaterhouse Coopers providing advice.

Earlier this month the firm changed its name Lynx Commercial Systems has rebranded under the name of Ascent Technology. Ascent has turnover of £24m and employs 240 staff.

Investcorp backs httprint financing and acquisition

US venture capital and private equity firm Investcorp has led a $12m series E investment in httprint, a technology and print solutions provider for the printing industry. Bertelsmann Capital Ventures, the venture capital division of the German media group, joined Investcorp in the investment round.

The funding will be used to develop the firm’s technology solutions as well as for the expansion of the firm’s German and US office in New York. In addition, the firm has announced the acquisition of Publishers Market AG, a Munich-based IT print solution provider. Terms of the acquisition have not been disclosed.

IDG Ventures leads E6m second round funding
 
IDG Ventures Europe, the European venture capital fund of International Data Group (IDG) has led an investment round for Automsoft, a global provider of advanced database solutions to process industries.

Founded in 1994, the Dublin-based company has raised E6m in a second round of private equity funding led by IDG Ventures Europe with Pentech Ventures and included previous investors Cross Atlantic Partners, Crucible, and Barisal. IDG’s investment came from its $100m European fund, which was launched in July 2001.