NorthEdge Capital LLP-managed funds agreed to acquire Catalis PLC, a provider of publishing and support services to the gaming sector, for about £89.8 million in cash.

Project Sword Bidco Ltd., a newly formed company indirectly controlled by the funds, will buy each Catalis share for £95.13. The agreement includes an alternative per-share offer of £36.57 in cash and 1 unit composed of about 5.9048 new ordinary shares and 585 new preferred ordinary shares in Bidco's ultimate holding company, Project Sword Topco Ltd.

The acquisition will be made through a court-sanctioned scheme of arrangement, subject to court and Catalis shareholder approvals. Once approved, the scheme is expected to take effect on the long-stop date of Dec. 31 or any later date.

Catalis' independent directors intend to recommend that shareholders vote in favor of the scheme, with majority shareholder Leo Capital 1 LLP having already committed to do so.

Alternatively, Bidco may pursue a takeover of Catalis with consent from the U.K. Panel on Takeovers and Mergers.

London-based Catalis owns and operates Testronic Laboratories Ltd., a provider of quality assurance and testing services to video games, as well as the television and film industries; Kuju Ltd., a video game developer; and Curve Digital Publishing Ltd., a video game publisher.

NorthEdge Capital is a private equity firm that invests in companies across the gaming, technology, industrial, legal services and consumer sectors.