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Private Equity snaps UK software and Outsourcing Giant

U.S. private equity firm Kohlberg Kravis Roberts has announced earlier today that it will purchase British software firm Northgate Information Solutions Plc for GBP 593 million.

The price represents a whopping 60 percent premium over the price of the share on the 11th of December. The offering price of 95p is higher than the share's 52 week high of 88.75p

Based in Hemel Hempstead, Northgate Information Solutions is a major supplier of bespoke IT solutions and services and is present in 46 countries worldwide with a workforce of nearly 6500.

Its customers include top 100 companies like Pfizer and major public sector organisations like UK police forces and councils.

The company had also purchased a Belgian HR group Arinso back in May 2007, turning it into the world's third largest human resource outsourcing provider behind Accenture and Ceridian Corporation.

Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.