Backers get five-fold return on €70m sale of Brite:Bill
Company expects to hire more people following the acquisition by AmDocs
Brite:Bill, the Dublin-based billing software company which was sold for about €70 million last week, delivered a five-fold return to its biggest private equity backers Investec and Delta Partners.
Investec put about €4 million into the company in return for a 30 per cent stake, which returned about €20 million. Delta invested around €1 million in Brite:Bill and is expected to get a similar return on its stake in the company which was founded...
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EY reports €393m revenues in Republic of Ireland for 2021 financial year
Revenues in the Republic increased 9.5 per cent for the year up to June 2021 to €393 million, up from €359 million in the previous year