SSP sale - US link to SSP private equity deal
Andrew Tjaardstra reports on the increase in the value of software houses that saw Towergate spend £275m on Open GI last year. Now, a private equity firm has splashed out almost £200m on SSP
Software house ssp has been bought by San Francisco-based private equity firm Hellman and Friedman for 190p a share, valuing SSP at £198m including £38m debt, approximately 11 times the firm's projected £18.8m earnings before interest tax, depreciation and amortisation for the current fiscal year.
H&F owns Vertafore in the US already, which supplies software to over 15,000 independent insurance agencies and 150,000 end-users. One senior source at a UK broker software house suggested that H&F
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