HgCapital acquires German software firm

Friday 3 June 2005 at 16:00

HgCapital, a mid-market private equity investor, has acquired Addison Software and Service, a German accounting software firm, in a €78m ($96m) management buy-out.

It is HgCapital's third technology buy-out in Europe in the past 13 months and its fifth acquisition in Germany since 2003.