Hg to invest $500m in Prophix.

Hg, a private equity firm, agreed to invest $500m in Prophix, a provider of corporate performance management software. “Our journey so far has shown us that there is still so much to play for in our industry. We have significant ambitions for the business and Hg’s investment and operational experience in software will help us reach these goals. We will look to serve our customers better than ever before, as we invest further in our sales and marketing functions, further our R&D capabilities, accelerate our transition to the cloud and look to scale our business across several regions, including in Europe. Hg has successfully helped businesses to accomplish these goals many times over and we’re excited to tap into some of this experience to unlock our full potential,” Alok Ajmera, Prophix CEO.