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April 06, 2006
3i's Takes Partial Exit on Magix
In a statement today, 3i, the UK based venture capital and buyout firm, provided some background on the Magix IPO, which we mentioned in an earlier post. The book was 13.2 times oversubscribed.
3i has been backing the Berlin-based software company for the past five years. It took the opportunity to divest 40% of its shares in the company which gave it 3.8 times money multiple on its original investment. It retains about 11% of Magix post-IPO.
The British VC's shows that it is a good time to be selling software companies.
The Magix IPO is the latest in "a string of successful investments and exits in the software industry for 3i", listing the IPO of Interhyp last year, the €50m sale of RedDot Solutions to Hummingbird, the €115m sale of Searchspace to Warburg Pincus, the €165m sale of PlaceWare to Microsoft, the €160m sale of Adaytum to Cognos and the €120m sale of Element5 to Digital River.
Read - German IPOs for Magix and SAF (a:c euro)
Posted on April 6, 2006 11:07 AM | Posted to Software | Venture Capital | Permalink
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