Lloyds TSB Development Capital has completed a £32m (€55m) buy-out of Transaction Technology, a provider of software to the accountancy profession in the UK.

The transaction has been backed by debt financing underwritten by Lloyds and the Royal Bank of Scotland. In addition, Lloyds will take a majority stake in the company.

Annemarie Quill

Royal Bank of Scotland

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Lloyds backs software firm buy-out

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