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Technology
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Heavy investment made into Berkshire firm
European Capital has announced that it is to invest €83 million (£56.3 million) in the Berkshire software firm Miles 33 Group.
The investment is to be split between senior loan facilities, debt and equity. Miles 33 currently supplies computer software to firms who deal in publishing, including regional newspapers.
Under the new deal, European Capital has announced that it will own 60 per cent of the firm. Previous owners of Miles 33 will hold a 40 per cent stake.
Director at European Capital Alex Morey said that the deal will lead to increased business for the firm.
"We believe that under European Capital's ownership and with the increased financial resources that we can bring to bear, Miles 33 is well placed to execute on its growth strategy both in the UK and internationally," he commented.
Miles 33 has an integrated solution that helps to support production in the editorial sense and online advertising booking.
The company says that it was established in 1976 and has been providing such services in a technological capacity ever since.
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