Computacenter founders' software venture sold for $700m

Peter Ogden and Philip Hulme exhibit Midas touch once again as Dealogic sold to US private equity firm

The financial software company set up by Computacenter founders Peter Ogden and Philip Hulme, Dealogic, has been sold for a cool $700m (£440m).

Ogden and Hulme founded Dealogic in 1983, along with a third investor – reportedly for just £30,000 – two years after launching Computacenter. Dealogic's platform is used by investment banks.

Yesterday Dealogic announced it is selling up to a subsidiary of US private equity giant The Carlyle Group in a deal valuing it at $700m.

Two other parties, including European publisher Euromoney Institutional Investor, will take a stake in the firm as part of the deal.

Hulme and Ogden had already demonstrated their Midas touch with Computacenter, in which they remain the second and fifth-largest shareholders, respectively. Their stakes of 9.85 and 6.47 per cent in the IT services giant are worth about £82m and £54m, respectively.

According to The Sunday Times Rich List 2014, Ogden boasts a fortune of £288m.
Hulme gave much of the fortune he amassed from the sale of his shares when Computacenter floated in 1998 to charity.