Private equity firm HgCapital annouced today in a press release that it has bought a majority stake in France-based Ullink. The amount was not disclosed.
Ullink provides the worldwide financial community with electronic trading applications and connectivity. Ullink CEO Laurent Useldinger established the company in 2001. Since then, both buys and sellers benefited from the companie's trading technology and infrastructure.There are now more than 150 lenders around the world that use the solutions of Ullink. In fact, 90% of the company's revenue are generated internationally outside of France, the statement said.
Useldinger said about the acquisition, "This is an exciting time for Ullink and our staff. In HgCapital we have found a partner who is thoroughly aligned with our goals and has the capital resources, knowledge and experience to help us to build our business even further. HgCapital has the leading franchise for software investment in Europe over the last 15 years and a strong track record of supporting businesses like Ullink grow into a much larger, more successful businesses. I believe our partnership will be of great benefit to our clients around the world as we continue to enhance the user experience and expand our offering."
The investment in Ullink represents the fifth HgCapital funds have made in the European software space in the past year. The company had earlier made an investment in Relay Software, P&I, e-conomic and Intelliflo.
HgCapital Chief Executive Officer Nic Humphries said in the statement, "Since its founding in 2001, Ullink has consistently achieved strong organic growth rates with a subscription revenue model. The company has a deserved reputation as a highly innovative business, with very strong technology and client service. We look forward to working with Ullink's exceptional management team to continue to capitalise on the firm's position and grow it into an industry champion."
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