Ireland-based Orbiscom specialises in providing software to the global payments industry, with customers including Discover card, PayPal, and its new owners.
The sale is HgCapital’s 16th since the start of the credit crisis in June 2007, which has seen the firm realise £1.2bn, with an average multiple of 2.7x.
It acquired Orbiscom in 2001, investing US$17.5m. Ian Armitage, chairman of HgCapital, said: “Orbiscom was one of a number of technology investments we made after the collapse of the technology boom in 2001 and 2002, which have proved extremely successful overall, thanks to our sector specialisation and the quality of management we have backed. Garry Lyons, the CEO of Orbiscom, has done an outstanding job in turning potential into reality.”