Foresight Group (Foresight), a listed infrastructure and regional private equity investment manager, has sold, subject to regulatory approval, portfolio company Codeplay Software Limited (Codeplay) to a US corporate buyer on 31 May 2022.
Codeplay is a UK provider of solutions for the semiconductor industry, accelerating the performance of computer chips that run Artificial Intelligence (AI) and other high-performance software.
The transaction will generate approximate gross proceeds of £48 million ($60 million SD) to funds managed by Foresight Group, equating to a 15.7x multiple on capital invested and an IRR of nearly 100% per annum.
