Key milestones in the history of IRIS:
November
1978
IRIS is founded. First version of IRIS software
developed for accountancy practices to automate the production of
statutory accounts.
October
2000
Revenues grow to around £9m. Lloyds TSB Development Capital Limited
(LDC) takes a majority stake in the business, valuing the company
at £30m.
July
2004
Revenues grow to almost £20m. HgCapital backs a management buyout,
valuing the company at £100m.
July
2007
Hellman & Friedman LLC majority fund the £500m merger of IRIS
and Computer Software Group plc (founded in 1984 and originally
backed by Elderstreet and NatWest).
The enlarged business trades under the IRIS brand.