Rolfe & Nolan, one of the City of London's oldest providers of back-office software used by futures and options traders, is set to leave the stock market at a value 85% below its peak after its independent directors recommended a £15m (€23m) cash offer from Hg Capital.

Rolfe & Nolan, which was established 30 years ago, hit a market capitalisation of £102m in February 2000, at the height of the technology boom. According to Leo Dee, the associate director at Hg Capital responsible for the bid, the company is still well regarded by its customers and peers but has been deserted by the stock market.