The firm has been sold by private equity firm hgcapital. The uk buyout group has kept an 11 per cent stake and a board seat in the. Some examples of software platforms and development activities adt. Hgcapital eyes iris software unit institutional investor. Hgcapital trust plc will participate in the acquisition of a majority stake in iris software group limited iris alongside other institutional. Mountain legal software arms prior to the sale of csg to hgcapital in 2007. Hgcapital looking to sell iris software group acq5. Visma was an early example of hg partnering with a business showing recurring revenues, offering business critical application software, supplying a fragmented sme customer base and their advisers a focus which forms some of our key sweet spot investment criteria today. Iris software web development, contract programming, and. Dec 02, 2014 the igrida software platform joint sicsed program is a computing cluster available to the centers research teams, consisting of about 100 computer nodes and 1. The company services a range of markets with its award winning unified ledger solution, including commercial, finance, hospitality. Hgcapital said the deal is the largest private equityled buyout of a software company in the u. Salaries posted anonymously by iris software employees.
Iris accountancy solutions is the uks leading provider of specialist applications software and solutions to the uk accountancy and payroll sectors, whilst iris software group primarily operates in various other vertical. Iris provides software to accountancy companies and gps and is owned by private equity group hgcapital. Iris software group computer software slough, berkshire 24,663 followers we ensure 80,000 businesses get things right today and look forward to the future with confidence. Unlike some deals, which leave everyone pondering their logic, elite has bought pilgrim currently enjoying a. Iris provides business critical software and services to liberate time, talent and energy of uk businesses, including accountancy practices, schools and smes. The merged group is said to have pro forma revenues of more than. Keith has 20 years experience in the software industry and previously cofounded lamond capital partners, a san francisco based technologyfocused hedge fund. Hgcapital sells iris software and computer software group.
See who you know at iris software systems ltd, leverage your professional network, and get hired. With 35 years experience, iris software is a leading provider of business critical software and. An extension dedicated to high performance computing is being installed. Iris forms mega group through merger with csg accountingweb. Elona mortimerzhika, chief executive officer, iris software group. At the time of the hg deal in 2011, the iris group also included computer software holdings but this was subsequently demerged and acquired by advanced computer software for.
The acquisition brings 6 highly skilled and experienced staff into iris across two locations peterborough and london. Hgcapital acquired csh as part of its purchase of iris software group in 2011 and has now succeeded in separating csh out from iris and selling it on to a strategic buyer. While iris now leads sage in terms of market share in the uk accountancy software market, software satisfaction awards surveys since 2005 suggest it has lost its position as the supplier with the most satisfied customers the iris board took the opportunity of leuws departure to reorganise the group, concluding that it can achieve better customer focus by formally separating the business. It services the information technology requirements of companies ranging from the fortune 100 to mediumsized firms by utilizing specialized domain knowledge, bestofbreed technologies, rapidly deployable proprietary frameworks. Hgcapital looking to sell iris software group ukbased accountancy and payroll software provider iris software is up for sale, according to sky news. To work for a company that adds tremendous value to propel your career your life at iris means a lifelong opportunity to explore your potential, continuous growth, and the joy of working on the latest technologies. Hgcapital eyes iris software unit midmarket private equity group hgcapital is in discussions to purchase ias, the accountancy and payroll software division of. This version is a viewer existing projects can be opened and analysed, but new measurements cannot be conducted. Iris group chief financial officer neal roberts will head this firm while the search takes place for a fulltime appointee. Hgcapital, the manager of hgcapital trust plc the trust, has today announced an investment into trace one sa trace one, a provider of software to the retail and private label goods sectors, headquartered in france. Csh is a leading provider of software to the uk legal and notforprofit markets and has an increasingly strong offering in accounting software for smes, ticketing, software. Iris is a large software and services business that grows organically and through acquisition. Hgcapital trust takes controlling interest in iris software group a software group which employs more than 200 people across greater manchester and cheshire has changed hands.
With 35 years experience, iris software is a leading provider of business critical software and services to the uk accountancy and sme sectors. Iriss capital markets solutions cover equities, fixed income, derivatives, commodities, foreign exchange and more. Iris software is a professional software services organization offering highquality solutions to businesses. Investegate announcements from hg capital trust plc, interim report and accounts. Iris software is only offered as part of a managed service contract. A free inside look at iris software salary trends based on 127 salaries wages for 60 jobs at iris software. Hgcapital sells iris software and computer software group to. Hgcapital reinvests in the uk business software firms, iris. Citing sources, the broadcaster said private equity owner hgcapital has appointed investment bank arma partners to advise and help find a buyer for the business. Dec 12, 2011 hgcapital trust takes controlling interest in iris software group a software group which employs more than 200 people across greater manchester and cheshire has changed hands. Iris software group kicked off 2019 with the acquisition of biostore. Hgcapital trust takes controlling interest in iris software. The other new company, iris software group, contains all the other iris units, including iris exchequer midrange accounting software and a collection of payroll and hr interests.
Iris is expected to be a particularly enticing takeover target because it enjoys profit margins of close to 50%, excluding investments the company has made in. It services the information technology requirements of companies ranging from the fortune 100 to mediumsized firms by utilizing specialized domain knowledge. Iris clinic practice management suite is built ground up to be the single software solution that a medical practice would ever need. Iris is a ukbased software company, serving over 100,000. Hgcapital announces investment in trace one hgcapital. Scope, plan and schedule projects with your entire team. Hgcapital has hired arma partners to run a sale process for iris that could value the maker of accounting and payroll software at more than. All aboard the iris investment roundabout or how to make a. The uk buyout group has kept an 11 per cent stake and a. Hgcapital trust saturn fund acquires cloudbased hr. Iris integrated management solutions provide a complete, simple and tidy solution for mission critical control, data management and facilities partnering. Alongside the iris tax, practice, payroll and accounting products, it now claims to be the largest software supplier to uk law firms and not for profit organisations, and now includes the chorus erp and hr software suite alongside exchequer from the iris enterprise. Kevin dady is the executive chairman of iris software group and is responsible for iris acquisition and corporate development strategy, while also continuing his executive sponsorship of the companys exciting next generation of products and services, which are due to be launched this year and beyond. Advanced computer software buys computer software holdings.
Click below to download a free trial version of the iris software v1. Hgcapital trust saturn fund acquires cloudbased hr software. Csh provides accountancy software to small and mediumsized businesses as well as back office software to uk professional services firms. In 2011 hgcapital bought back iris and split the group into two divisions. Deepen your expertise and learn from the insights of iris associates, consultants, software specialists and industry experts. Iris software group helps over 80,000 businesses, schools and public sector organisations successfully managing their critical operational tasks. Iris software was founded in 1985 by chuck lundgren, tim gardner and richard gardner.
These tools include a version manager, mailing lists, a task and bug tracking manager, etc. The pace is fast and can be challenging for some people. Iris software systems limited overview free company. The business is genuinely focussed on looking after its staff, and clients. We understand you need to be as effective and productive as possible, so you can deliver an unsurpassed service to your clients. Iris is expected to be a particularly enticing takeover target because it enjoys profit margins of close to 50%, excluding investments the company has made in a new cloudbased software division. Medical practices are struggling to find an electronic medical records that will integrate with their practice management software. Iris has built software solutions to meet your specific needs.
Nov 16, 2011 hgcapital eyes iris software unit midmarket private equity group hgcapital is in discussions to purchase ias, the accountancy and payroll software division of iris software group, from private. The private equity firm is taking a 62 per cent stake in the accountancy. European midmarket private equity investor hgcapital has sold iris software, a uk provider of software to accountancy practices and their customers, and. Investegate announcements from hg capital trust plc, annual financial report. Hgcapital has backed the company since 2004, acquiring a majority stake in 2011 and executing a. Hgcapital trust takes controlling interest in iris.
Iris software group is a ukbased enterprise software provider. From 1985 to 1991, the company concentrated on the ibm midrange market, producing and marketing multiple ibm s36 programmer utilities, as well as consulting and writing about the midrange. Through helpful strategic guidance, and by brokering key relationships, theyve brought fuel to our partnerships with publics agencies and across the broader adtech ecosystem. Deja vu vin murria bighand in us move as in iris legal deal. Iris software has more than 20 years experience in delivering the full range of capital markets software and solutions. The seller is hgcapital, which will retain a minority stake in.