TVC Holdings says selling stake in Havok to Intel
DUBLIN, Sept 17 (Reuters) - Irish venture capital firm TVC Holdings (TVCH.I) said on Monday it had agreed to sell its stake in software provider Havok Inc. to Intel (INTC.O) for around $21 million.
The Dublin-based firm (TVCH.L) said this was its first realisation since it began trading on London's AIM and Dublin's IEX stock markets in July.
TVC Holdings said in a statement the deal was expected to be closed in five days and it would sell its stake of just over 27 percent to Intel.
"We are pleased to announce this deal, which is a successful exit at a fair price," said TVC Holdings Executive Chairman Shane Reihill.
Havok, a Dublin-based company founded in 1998, will be a wholly owned subsidiary of California-based Intel and would continue to operate as an independent business.
TVC Holdings said the acquisition of Havok's entire share capital by Intel was valued at around $110 million.
Havok's technology has been used in some of the most widely known video game titles, including "BioShock," "Stranglehold," "Halo 2," and "Harry Potter and the Order of the Phoenix".
