News
Northgate plans public sector expansion under new ownership
3 April 2008
Northgate Information Solutions has announced plans for expansion
following completion of its takeover by private equity firm Kohlberg
Kravis Roberts & Co (KKR) in March.
Northgate says that it will strengthen and expand its public sector
business in local government, education, criminal justice and health
through a combined programme of organic growth and strategic
acquisitions.
Private equity firm KKR — responsible for some of the biggest
buyouts in corporate history — acquired Northgate Information Solutions
on 5th March 2008 and holds 100% of its shares. Northgate’s shares were
delisted from the London Stock Exchange on 7th March 2008. The deal
valued Northgate at £1.1bn.
Chris Stone, Chief Executive Officer of Northgate Information
Solutions, said today: “KKR’s investment approach makes them an ideal
partner for Northgate. We share a common business philosophy for
long-term value creation. The opportunities for us to expand our public
sector technology services business under their ownership are extremely
exciting. Under our new ownership we shall continue the drive for public
sector excellence through innovation and the development of new forms of
performance partnerships with our public sector partners.”
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