Cross Atlantic Capital Partners Successfully Exits its Position in Vebnet (Business Wire)

Friday October 10, 10:12 am ET Transaction follows the Standard Life plc acquisition of Vebnet for $42 million (GBP 24 million) RADNOR, Pa.--(BUSINESS WIRE)--Cross Atlantic Capital Partners today announced that it has exited its position in Edinburgh, Scotland software firm Vebnet Ltd as a result of an acquisition by Standard Life plc for $42 million (£24 million). Cross Atlantic will realize an additional $7.5 million from the sale, having previously sold a portion of its investment for $2.0 million. Cross Atlantic made its initial investment in Vebnet more than seven years ago and has been closely involved throughout. “We recognized early on that variety within employee benefit programs was growing increasingly popular. At the same time the management of these programs was causing serious headaches for employers,” said Don... [read full story]