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Northgate makes 63m Euro investment in Belgian HR provider
Written by Business Weekly   
Tuesday, 29 May 2007
Herts-based ICT specialist, Northgate Information Solutions has announced a further acquisition of shares in Belgian HR solutions provider, ARINSO for 28.9m Euros, bringing the firm's total share capital to 16.65 per cent.

The UK firm has made a string of investments in the Belgian NV this month, starting with a 1.26m share, 8.42 per cent stake, worth 31.6m Euros on May 15. It followed this up with a further 80k shares on May 16, and the most recent acquisition of 1.16m shares.

The newest buy has brought Northgate's total investment to over 62.5m Euros, and gives the firm 16.65 per cent stake in ARINSO.

Northgate's own share price has seen a marginal gain of 1.25p to 79.5p.

 
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