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Investcorp buys majority stake in online booking firm - ASHARQ AL-AWSAT English Archive
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DUBAI (Reuters) – Investcorp, the Bahrain-based alternative investment manager, on Sunday said it bought a majority stake in U.K. online booking solutions firm, eviivo Ltd.

Investcorp, which once floated luxury brands Gucci and Tiffany & Co, said the investment valued eviivo at about 30 million pounds ($49.2 million). It did not disclose the actual amount invested in eviivo.

The majority stake was bought through Investcorp’s technology private equity arm, the firm said in a statement. The technology investment arm invests in small and medium-sized businesses in North America and Europe, Investcorp said.

London-based eviivo grew at a compounded annual growth rate of over 60 percent in the last few years and partners with more than 4,400 businesses in the United Kingdom, Investcorp said in the statement.

Last month, Investcorp said it made three real estate acquisitions worth $120 million in the United States in 2011.

Investcorp had $12.2 billion in assets under management at the end of 2010 across its private equity and hedge fund businesses.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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