M&A Deal Summary

IRIS Acquires Dext Software

On December 3, 2024, IRIS acquired software company Dext Software from HgCapital

Acquisition Highlights
  • This is IRIS’s 10th transaction in the Software sector.
  • This is IRIS’s 20th transaction in the United Kingdom.

M&A Deal Summary

Date 2024-12-03
Target Dext Software
Sector Software
Buyer(s) IRIS
Sellers(s) HgCapital
Deal Type Add-on Acquisition

Target

Dext Software

London, United Kingdom
Dext Software is a bookkeeping automation software company. Spanning data capture, automated classification, and reporting, Dext’s software helps accountants realize material efficiency savings from automating receipt capture/digitization and provides a “real-time” view of clients’ accounts. Dext Software was founded in 2010 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

IRIS

Slough, United Kingdom

Category Company
Founded 1978
Sector Software
DESCRIPTION

IRIS is a private software house supplying business management solutions to over 60,000 customers, from start-ups to large organisations. IRIS was founded in 1978 and is based in Slough, United Kingdom.


DEAL STATS #
Overall 25 of 25
Sector: Software M&A 10 of 10
Type: Add-on Acquisition M&A Deals 23 of 23
Country: United Kingdom M&A 20 of 20
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-15 SwipeClock

South Jordan, Utah, United States

SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

Buy -

Seller(S) 1

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 94 of 97
Sector: Software M&A 21 of 24
Type: Add-on Acquisition M&A Deals 45 of 47
Country: United Kingdom M&A 47 of 47
Year: 2024 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-04 Ncontracts

Brentwood, Tennessee, United States

Ncontracts provides risk, vendor, and compliance management software to a rapidly expanding customer base of more than 1,300 financial institutions located in all 50 states and U.S. territories. Ncontracts was founded in 2009 and is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-03 smartTrade Technologies

Aix-en-Provence, France

smartTrade Technologies is an automated trading platform that enables fast access to a wide range of liquidity for Foreign Exchange (FX), Fixed Income, Equities, Cryptocurrencies, and Derivatives. These solutions connect to numerous liquidity providers, aggregation, smart order routing, order management, pricing, distribution, risk management capabilities, and an HTML5 user interface. smartTrade Technologies was formed in 1999 and is based in Aix-en-Provence, France.

Sell -