Carlyle in Advanced Talks to Take Innovation Private
August 31, 2015
The Carlyle Group is reportedly in advanced talks to acquire Innovation Group (LON: TIG) for 40 pence per share, which would value the company's entire equity at nearly £500 million ($769 million). Incorporated in 1996, Innovation is a provider of solutions that support the entire insurance value chain including quote & inception, first notice of loss, claims and repair management, as well as settlement and subrogation. The company employs over 2,600 people and serves over 1,100 clients across North America, Europe, Asia, South Africa and Australia. Innovation is said to have acknowledged the talks, but is unsure if a deal will be struck.