UK VC Oxford Capital has sold human resource software specialist Infobasis to US peer Salary.com for approximately £2.7m.
Based in Abingdon in Oxfordshire, Infobasis was set-up in 2001 and provides online training and performance measurement software for employers. Among its clients are Microsoft, Norwich Union, Safeway and the NHS.
The business will now become the principal European arm of Salary.com.
Oxford Capital invested in 2004, and has overseen a rise in Infobasis’ turnover from £500,000 to £3m.
David Mott, investment director at the VC firm, said: “With our support, Infobasis developed from an early stage business to become a European leader in the market for talent management software. This transaction is has delivered a good return to the Oxford Gateway Fund. It is also good news for Infobasis, which has now reached a level of maturity where its next phase of development is best served by being part of a larger group.”