Hg reinvests in business services provider Citation

European tech specialist Hg has reinvested in human resources and legal services provider Citation Group after agreeing to sell a controlling interest in the UK company to KKR in August.

Citation provides legal and human resources support for small- and medium-sized enterprises across the UK from offices in Wilmslow, Norwich, Belfast and Glasgow. It has 900 employees and annual revenues of about £65m. The company, founded in 1996, was acquired by Hg in 2016 from mid-market firm ECI Partners for £185m. Since then, the business has doubled its customer base to about 40,000 SMEs.

Hg said it acted on an option to acquire a co-controlling stake with KKR in the sale agreement it announced this summer. Under that deal, Hg said it would realise around £25.8m of estimated cash proceeds from the sale.

Chris Morris, chief executive of the Citation Group, said: “To attract the backing of two world-class investors

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Announcing Segment Data Lakes, a New Data Architecture for Customer-First Companies

Built on the World’s Leading CDP, Segment Data Lakes Provides Businesses with the Foundation Needed for Advanced Analytics, AI and Machine Learning

SAN FRANCISCO, Sept. 08, 2020 (GLOBE NEWSWIRE) — Segment, the world’s leading customer data platform (CDP), today announced the launch of Data Lakes, a new data architecture product built specifically to help companies create cutting-edge customer experiences with their customer data. Flexible, affordable and easy to use, Segment Data Lakes provides companies with the foundation needed to produce advanced analytics, uncover rich customer insights, and power machine learning and AI initiatives.

“We all know that customer data creates a competitive advantage, but what companies sometimes fail to recognize is that the quality of their data architecture will determine just how significant that advantage really is,” said Tido Carriero, Chief Product Development Officer at Segment. “Segment Data Lakes gives data scientists the foundation they need to unlock the

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