LONDON (ShareCast) - (ShareCast News) - Oakley Capital Investments announced on Friday that the Oakley Capital Private Equity III fund had now completed the acquisition of a majority stake in TechInsights.
The AIM-traded company said 'Fund III' invested $49.7m in the business.

It said the company's indirect contribution through its interest in 'Fund III' was £18.1m.

"TechInsights is a global leader in the intellectual property and technology services market," the Oakley board said in its announcement.

Oakley Capital had initially announced the acquisition in 15 May, saying at the time that the investment would allow TechInsights to be supported in further developing its subscription and syndicated data products, by leveraging Oakley Capital's experience in helping businesses develop their recurring revenue streams.

Following the merger with its main competitor ChipWorks in June 2016, TechInsights generated revenues of $45m and EBITDA of $12.6m in 2016, on a pro-forma basis.

"We are delighted to have reached agreement for an investment in a business of TechInsights' quality and global reputation," said Oakley Capital director Peter Dubens at the time of the initial announcement.

"We look forward to supporting Henry Elkington and the experienced management team in developing the business further, particularly by leveraging TechInsights unmatched know-how to grow the subscription and syndicated data product offering."

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