Oakley Capital Investments to take key stake in TechInsights

Oakley Capital Investments Ltd shares are rising after one of its funds agreed to acquire a majority stake in TechInsights.

The fund, Oakley Capital Private Equity III, was expected to invest $49.9m in the business, and would invest alongside Henry Elkington, the CEO of the current parent company (AXIO).

Elkington would become chairman of TechInsights at completion.

The company's indirect contribution through its interest in Fund III was expected to be roughly £18.2m.

TechInsights is specialist in the intellectual property and technology services market.

Following the merger with main competitor ChipWorks in June 2016, TechInsights generated revenues of about $45m and EBITDA of $12.6m in 2016, on a pro-forma basis.

At 14:39 BST, shares in AIM-quoted Oakley Capital Investments Ltd were up 0.92% to 165p each.