TA Associates to offload Auction Technology stake for £85.3m

Private equity firm TA Associates said it has agreed to sell its entire 12.6% stake in Auction Technology for £85.3m.

TA will offload 15,337,625 shares in the online auction platform at £5.50 each. Completion of the sale is expected to take place on December 20.

The US-based investor bought Auction Technology in 2020 and subsequently brought it to market via an IPO in February 2021.

Reporting by Frank Prenesti for Sharecast.com