IP Group plc (GB:IPO) has released an update.
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IP Group plc has announced a lucrative exit as Visa agrees to purchase their portfolio company Featurespace for an undisclosed sum, resulting in a £134 million cash receipt and a £51 million uplift in net asset value for IP Group. This acquisition further validates IP Group’s successful business model and investment strategy, having been Featurespace’s largest shareholder since its first institutional investment in 2012. The deal, which is still subject to regulatory approvals, marks a significant financial return for IP Group, which has a history of backing high-profile companies.
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