- IP Group
- 19 December 2024 15:02:49
Source: Sharecast
IP Group, which was the first institutional investor in Featurespace back in 2012, said it invested a total of £22.9m in the fraud prevention and financial crime tech firm over seven financing rounds.
The sale to Visa, which was first announced in September, was for a total £134m, with £119m due on completion and £15m subject to deferral.
"As our biggest exit to date, we're delighted with this outcome which represents an excellent financial return for IP Group," said chief executive Greg Smith.
The proceeds means the company will raised a total of £179m from exits this year, more than four times the £38.6m received in 2023.
After raising its buyback programme by £15m already in December, the additional £25m put aside means the repurchase plan will now total £70m, with £28.9m of shares having already been bought back.
The stock was down 1.7% at 50.9p by 1456 GMT, pulling back after a near-30% surge over the past month.