Hg, a UK software investor, closed its first buyout since the SaaSpocalypse on Wednesday. The deal values the rights‑and‑royalties firm at $500 million.

The purchase follows a steep decline in software shares, prompting investors to seek stable cash‑flow businesses. Hg’s move signals confidence in niche, recurring‑revenue models.

By acquiring the company, Hg expands its portfolio into royalty management, a sector with predictable income streams. The transaction bolsters the investor’s balance sheet and positions it to ride out further market volatility.

Hg’s first buyout after a rocky period underscores a shift toward asset‑heavy, low‑risk deals in the software sector.