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PE firm Tenzing to exit software provider FMP Global

HgCapital LLP-backed IRIS Software Group Ltd. agreed to acquire software provider FMP Global from U.K.-based lower-middle-market investor Tenzing Pvt. Equity LLP.

Tenzing will exit from FMP Global in a transaction expected to close by the end of September. Tenzing began investing in FMP in 2016.

Founded in 2006, FMP Global provides payroll services and software to customers in 135 countries.