Mergers and Acquistions News
Categories: Software
October 23rd 2008, 16:08PM
Travel technology firm Comtec has announced it has acquired the assets of software provider Pro EQ.
According to M&A News, the RJD Partners subsidiary has now made three purchases since May after its parent company obtained approximately £10 million for future takeovers from banking giant HSBC.
Frank Bullman, a spokesman for RJD Partners, remarked: "The rapid progress Comtec has made in pursuit of its organic and acquisition-led strategy has been impressive."
The financial details of Comtec's latest purchase were not revealed, in-keeping with its lack of transaction disclosure following the takeovers of Jamber and Atolis earlier this year.
RJD Partners is an independent private equity firm based in the UK and has more than £250 million worth of funds under management.
As well as Comtec, which it took over for an undisclosed sum in 2008, it also owns IT services company ISG Technology - purchased for £17 million in 2005.
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