Puma Private Equity has exited its stake in global digital wellbeing platform Tictrac, returning a 2x money multiple and 38% internal rate of return on its investment after just two years.
The overall transaction is valued at up to £35 million.
The exit has been realised following a bid by Dialogue Health Technologies Inc (Dialogue), Canada’s premier virtual healthcare and wellness platform, and is the largest acquisition in their history.
Tictrac’s software and services provide information for businesses to take better care of their employees’ health and wellbeing, and the business has amassed an impressive global client list, delivering a gross margin of approximately 90%.
In 2020, Puma led an investment round into Tictrac, investing £5m to support the business’ growth, capitalise on the technology investments made, and build out its distribution and content provision.
