3i Group plc (“3i”) today announces that it has agreed the sale of its investment in Magnitude Software, a leading provider of data management software solutions, with offices in the US, the Netherlands, UK, Canada and India, to insightsoftware, Inc. Proceeds to 3i are estimated to be c. £344m / $477m, which represents a c.100% uplift on its 30 June 2021 valuation. This sale represents a 2.6x multiple of invested capital and an IRR of 47%. 3i will make a co-investment of c.$50m into insightsoftware.
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