April 5, 2010 (FinancialWire) — Trintech Group Plc (NASDAQ: TTPA) has successfully completed the sale of its healthcare division, Concuity, to The Advisory Board Company (NASDAQ: ABCO) for $34.5 million in cash.

The purchase price is subject to a working capital adjustment, and an escrow amount of $6 million has been set aside with $2 million to be released after 9 months and the remainder no later than December 31, 2011, subject to the satisfaction of post-closing conditions.

William Blair & Company acted as Trintech's lead financial advisors in this transaction. Scheef & Stone acted as Trintech's lead legal counsel.

Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, risk management, and compliance  software solutions for commercial, financial, and healthcare markets.

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