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ICON secures £4m funding for leading Video Management software provider, IPV

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Deal Release:

With further capital to support the sales and marketing function, IPV will be well positioned to target the digital marketing sector in both the US and the UK

Rowan Grobler
Investment Manager, Mobeus

Shutterstock 719715841 CROPPED

11 Dec 2019

ICON has secured a £4 million growth capital investment round for IPV led by Mobeus Equity Partners. IPV is a leading media asset management software provider that helps leading brands intelligently create, edit, search and automate video content at game-changing speeds.

Professional video content is increasingly important in marketing to prospects and customers, not to mention connecting employees across multiple locations. As the number of video files and the size of those files grow, brands require alternative and flexible solutions to manage video media content in ever shorter timeframes from remote locations.

IPV has developed Curator, one of the leading media asset management products, which makes video content easy to capture, access, edit, modify and transfer, in order to ensure consistency of message and increase audiences via digital, online and on mobile platforms.

IPV has an enviable blue-chip client base, including leading players across multiple verticals, such as HBO, Monster Energy, NASA, Nintendo, PGA Tour and Turner, with a significant presence across the UK and the US.

Mark Fagan, CEO, said: “We have fantastic customers, and an exceptional product and vision. With streaming and OTT services becoming ever more dynamic, and as video grows across all organisations from broadcasters to brands, so has the need to organise and collaborate on this content efficiently.

The beauty of Curator is its ability to make any brand’s video content easily accessible to anyone in the business who needs it, substantially enhancing the use of video for everything from marketing campaigns, through creating consistent customer experience, to archiving and monetising old content.”

Eddie Harding, Partner at ICON Corporate Finance, who introduced Mobeus to IPV and advised the company on the round said: “I’m delighted to have helped Mark and the team raise this growth capital funding to scale their sales and marketing operations, and to have introduced such a highly respected tech investor in Mobeus. With the exponential rise in the production of video content, the current growth in demand for video management is phenomenal and IPV’s Curator product is ideally placed to benefit from this significant market opportunity.”

Rowan Grobler, Investment Manager at Mobeus, added: “We’re delighted to be leading an investment round to back a senior team of proven operators. With further capital to support the sales and marketing function, IPV will be well positioned to target the digital marketing sector in both the US and the UK.”

The Deal:

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ICON advises Hub Network Services on its sale to SysGroup Plc

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Deal Release:

The acquisition of HNS further complements our existing services, enabling us to offer our customer base an even wider range of enterprise-grade managed connectivity services alongside our existing managed IT services portfolio.

Adam Binks, Chief Executive Officer
SysGroup

Sysgroup 142

01 Jun 2019

ICON Corporate Finance, a specialist in Technology M&A, has advised Hub Network Services Ltd (‘HNS’), a B2B, managed services provider, on its sale to SysGroup Plc.

Based in Bristol, UK, HNS is a managed connectivity and co-location solutions provider with a customer base which includes some of the UK’s most well-known brands. The deal will see HNS’ network infrastructure, supply agreements and extensive experience in the industry compliment and expand SysGroup’s existing managed IT and cloud hosting offering. Enabling SysGroup’s customers to benefit from an enhanced portfolio of services and solutions that help address the increasingly complex IT landscape in which they operate.

Adam Binks, Chief Executive Officer, SysGroup, commented: “I am thrilled to have made our second acquisition of the year and look forward to working with the HNS team in due course. The acquisition of HNS further complements our existing services, enabling us to offer our customer base an even wider range of enterprise-grade managed connectivity services alongside our existing managed IT services portfolio.”

James Kenward, Director, ICON Corporate Finance, who lead the deal commented: “We are delighted to have acted as corporate finance advisers on the sale. HNS are industry experts, providing a consultative approach in connectivity and co-location. The business was attractive to a range of UK acquirers due to its strong customer base, long contracted revenues and a core network infrastructure coupled with its supply agreements with multiple UK network operators.”

“SysGroup was selected due to its strategic fit which broadens its service offering, providing cost synergies and further enhances their managed service solutions proposition to their customers.”

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ICON Advises Software Solutions Firm Redland on its Sale to Ideagen Plc for £17.5m

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Deal Release:

I am looking forward to seeing ‘Insight’ and the wider Redland team going from strength to strength with the expanded reach and opportunities available via Ideagen

Joel Turland, Executive Chairman
Redland

Redland

01 Apr 2019

ICON Corporate Finance, specialist in Technology M&A, has advised Redland Business Solutions Ltd (‘Redland’), a Financial Services RegTech, on its sale to Ideagen Plc for £17.5 million.

Based near Birmingham, UK, Redland is a RegTech SaaS company which supplies regulatory and compliance software to the financial services industry.

It’s leading software platform, ‘Insight’, provides banks, investment managers, asset managers and insurance companies with solutions that underpin the Senior Managers & Certification Regime (SM&CR) and individual employee competency.

Redland brings more than 40 clients to the Ideagen Group, including, 7 FTSE 100 and 2 Fortune 500 companies. Clients include Nomura, Santander, Investec, Hargreaves Lansdown and Rathbones.

David Hornsby, Executive Chairman of Ideagen, said: “Redland is an extremely valuable addition to the Group and is in line with our strategy of acquiring Integrated Risk Management businesses that have strong intellectual property (IP) and growing recurring revenues.

“Financial services is an important vertical market for Ideagen and the combination of Redland’s Insight platform with Ideagen’s Pentana will provide a compelling proposition covering internal audit, risk management, certification and SM&CR compliance.”

Joel Turland, Executive Chairman at Redland, said: “We are delighted that Redland will be joining the Ideagen Group, which truly is a global organisation in the governance, risk and compliance software space. With thousands of clients globally, Ideagen will be able to introduce our Insight product to a range of new clients.

“Ideagen is not just acquiring an outstanding product in the form of our ‘Insight’ solution, but is also gaining a superb team with exceptional industry domain knowledge which successfully develops, markets, sells and supports it across the UK.

“I am looking forward to seeing ‘Insight’ and the wider Redland team going from strength to strength with the expanded reach and opportunities available via Ideagen.”

James Kenward, Director at ICON, who led the transaction said: “We are delighted to have acted as corporate finance advisers on the sale. Redland’s configurable SaaS Compliance Management Platform ‘Insight’ enables the UK’s largest financial institutions to manage and comply with the evolving, business-critical needs of people-based regulation.

As a clear market leader with an unparalleled track record, it has strong recurring revenues and significant growth opportunities. It was no surprise that the business received considerable attention and was attractive to a range of International acquirers. Ideagen was selected due to the strong strategic fit and its ambitions for the future growth of the business.”

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ICON advise Mosaic Smart Data on $9m Series B Round with CommerzVentures, Octopus & JP Morgan

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Mosaic Smart Data is an outstanding and highly innovative company who have recognised a major gap in the Capital Market space. We’re delighted to have secured funding from some of FinTech’s biggest global investors to support their rapid growth.

Nicky Cotter, Head of FinTech
ICON Corporate Finance

Matt photo

01 Feb 2019

ICON have advised Mosaic Smart Data on a USD 9m investment round co-led by CommerzVentures and Octopus Ventures with follow on investment from JP Morgan.

Mosaic Smart Data, the real-time capital markets data analytics company, has completed an USD 9 million investment round to support its rapid product development and global expansion.

The round is co-led by CommerzVentures and Octopus Ventures and includes J.P. Morgan – an existing investor and client.

Daily trading activity in the capital markets generates vast quantities of raw transaction and pricing data. Institutions are increasingly looking to extract the value from this, largely untapped, data asset. Annual spending on data analytics and market data has now grown to over USD 30.5 billion a year.1 Being able to refine this raw data and distil it into meaningful ‘Smart Data’, where value can be extracted in the form of actionable insights, is a significant challenge that all market participants face, but success offers a proven and compelling competitive advantage for both buy-side and sell-side.

Mosaic Smart Data’s solution cleanses, normalizes and enriches this raw data and provides a consolidated real-time view and analysis across the flows of market activity. Mosaic’s advanced suite of machine learning models identify and alert the user to opportunities and threats, generating actionable insights specific to user job functions from sales and trading to management and compliance.

The firm provides analytics technology suitable for investment banks, buy-side firms, custodians, ECN’s, exchanges and regulators.

Heiko Schwender, Principal at CommerzVentures, said: “Data analytics is becoming an integral part of every industry and the capital markets are no different. We will soon be at a position where it is a prerequisite for performance in the markets. This presents a huge opportunity for Mosaic Smart Data, which has built a platform which sets the gold standard for capital markets analytics. We are thrilled to be part of Mosaic Smart Data’s journey.”

Warren Rabin, Co-Head of Global Macro Sales and Marketing at J.P. Morgan, said: “Today’s financial markets are awash in data at a scale never seen before, but what really drives performance is being able to extract truly actionable insights from that data in real-time. Tools like this that quickly make sense of vast data sets are changing the way our teams respond and operate and are going to become a differentiating factor for banks as they look to add value in their client discussions.”

Zihao Xu, Future of Money lead & early stage investor at Octopus Ventures, said: “One of the most exciting applications of artificial intelligence is combining it with human intelligence to create something which is more than the sum of its parts. Mosaic Smart Data’s machine learning models surface data insights that even the best human quant may not spot, delivering them to staff in a way which lets them act immediately. That is a powerful combination to drive productivity and performance across FICC markets globally.”

Matthew Hodgson, CEO and Founder of Mosaic Smart Data, said: “Mosaic Smart Data’s mission is to empower financial market professionals with usable, data-driven tools to ask the questions they need answered and to receive those results in a language they can understand. We want them to feel as though they have the firm’s best quant sitting at their desk 24/7, able to answer any question they have almost instantly. That is the power of smart data analytics.

“This is a mission which is driving incredible interest among the world’s leading financial institutions. With the support of these investors, we’ll be able to take full advantage of the opportunity, accelerating deployment of the Mosaic Smart Data platform for clients and ensuring we keep the platform at the cutting edge of data analytics R&D and smart data technology.”

Nicky Cotter, Head of FinTech at ICON Corporate Finance, who led the Series B round added: “Mosaic Smart Data is an outstanding and highly innovative company who have recognised a major gap in the Capital Market space. We’re delighted to have secured funding from some of FinTech’s biggest global investors to support their rapid growth.”

This transaction further supports ICON’s FinTech deal expertise which includes among others the strategic investment by Aviva into Wealthify, Synova Capital & FiveW Capital’s investment into Merit, the acquisition of Cypad by ParentPay and Parmenionby Aberdeen Asset Management.

1Financial Market Data/Analysis, Global Share & Segment Sizing 2019: Burton-Taylor (2019)

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ICON secures £6.5m in Series B funding round for Imagen

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Deal Release:

We are delighted to be backing Imagen and the exceptional management team that has developed a market leading video management platform

Richard Lewis, Investment Director
Downing Ventures

Racing car image DA

21 Dec 2018

ICON Corporate Finance has secured a £6.5 million Series B funding round for Imagen, the leading SaaS video management platform business. The company received funding from an investor pool led by Downing Ventures. The round also included capital from Guinness Asset Management Ltd and participation from existing investor, Cambridge Innovation Capital.

The investment represents a major milestone for the company, following significant growth in 2018 that saw Imagen post an 88% year on year revenue increase driven by clients including Formula One, The Premier League, World Tennis Association, BP, Reuters, BBC and IMG, part of Endeavor.

The investment follows a growth trajectory that has seen Imagen establish a significant foothold in the video management sector and become an essential piece of technology for sports, media and enterprise businesses looking to manage their expanding video and content libraries.

Charlie Horrell, CEO of Imagen, comments, “This funding is clear recognition of the value our partners and prospects see in the platform. We have a world class roster of clients across the sports, media and enterprise sectors and have a healthy pipeline going into 2019. We look forward to accelerating our global operations and are thrilled to be working with new investors to continue shaping the future of video management.”

Richard Lewis, Investment Director at Downing Ventures, added, “We are delighted to be backing Imagen and the exceptional management team that has developed a market leading video management platform. We are now focused on supporting Imagen’s exciting UK and international expansion plans.”

Victor Christou, CEO of Cambridge Innovation Capital, adds, “Imagen was one of the first companies into which CIC invested. It has made great progress since our initial investment, transforming itself into a globally leading SaaS video management platform with a greatly enhanced client list. We are delighted to continue to support the company as it expands from its UK base into international markets.”

Malcolm King, Fund Manager at Guinness Asset Management said, “Imagen is an acknowledged leader in video management with an enviable customer base. We are delighted to have completed our growth capital investment into the company and look forward to working with the Imagen team, CIC and Downing Ventures to help the company realise its international growth ambitions. The deal demonstrates our ongoing ability to source and deliver high quality investments for our EIS investors.”

Eddie Harding, Partner at ICON Corporate Finance who advised the company on the round, added, “I’m delighted to have helped Charlie and his team raise this funding from these three highly respected tech investors. The research shows that video continues to grow exponentially, and Imagen’s enterprise grade video management platform is ideally placed to meet the explosive demand of this sector.”

The funding will enable Imagen to expand its global operations and make significant inroads into the US and European markets. Imagen will be establishing a customer led sales and marketing presence in the US, as well as accelerating product development and the growth of its technology division.

About Imagen

Imagen is an intuitive video management platform that enables sports organisations, media companies and enterprise sectors to intelligently manage their video content with enhanced functionality, control, and insight. Imagen is being used by global organisations to manage and distribute their expanding video and media libraries – enabling fast, easy, secure and controlled access to content through the highly customisable platform.

Imagen’s customers include Formula One, The Premier League, World Tennis Association, BP, Reuters, BBC and IMG, part of Endeavour. The secure platform is also used by the Ministry of Defence, and preserves archive collections for Imperial War Museums, the British Library and the BFI.

For more information visit www.imagenevp.com

About Downing Ventures

Downing Ventures is a London based evergreen fund investing in seed to series A (and beyond) companies, providing entrepreneurs with a ladder of funding. The fund has backed over 60 ambitious businesses (as at January 2019) across a variety of technology sectors including online marketplaces, enterprise software, and health technology.

About Guinness Asset Management

Guinness Asset Management provides a range of long only actively managed funds to individual and institutional investors. We also offer an Enterprise Investment Scheme (EIS service) investing in private growth stage and AIM-listed companies. Founded in 2003, Guinness is independent and is wholly owned by its employees. We believe in in-house research, intelligent screening for prioritisation of research and well-designed investment processes. We manage concentrated, high conviction portfolios, with low turnover and no benchmark constraints. Since our establishment we have developed a variety of specialisms in global growth and dividend funds, global sector funds and Asian regional and country funds.

About Cambridge Innovation Capital plc

CIC combines a unique relationship with the University of Cambridge with deep financial and industry links to support rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies, with the benefit of some of the most influential figures in the sector and a patient capital structure.

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ICON advises Membership Software Supplier Silverbear on its sale to US based, PE backed ClearCourse Partnership

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Deal Release:

This exciting partnership with ClearCourse will allow us to continue providing new and innovative solutions to the membership management space at a rate that is more in line with our ambitious growth plans

Mark Travis, Founder
Silverbear

Silverbear

14 Dec 2018

ICON Corporate Finance, a specialist in Technology M&A, has advised Silverbear, a leading membership software and customer relationship management (CRM) solutions provider, on its sale to ClearCourse Partnership, backed by New York based, PE house Aquiline Capital.

Originally launched as a CRM integration and development business in 2000, Silverbear later transitioned to a provider of integrated management solutions for the membership and trade association sectors. The Microsoft Dynamics ISV continues to grow and has implemented digital transformation programmes for more than 65 organisations, with over four million members using its flagship Silverbear Membership product.

ClearCourse Partnership LLP, a partnership that is seeking to acquire innovative technology companies providing membership software and services to groups, organisations and businesses, today announced its acquisition of Silverbear. ClearCourse is backed by Aquiline Capital Partners, a New York and London-based private equity firm investing in businesses globally across the financial services and technology sectors.

Mark Travis, Founder at Silverbear, said “This exciting partnership with ClearCourse will allow us to continue providing new and innovative solutions to the membership management space at a rate that is more in line with our ambitious growth plans. We now look forward to leveraging the capabilities of the ClearCourse platform, expanding our offer to new and prospective customers and delivering our next stage of growth”.

Brian Parker, Head of M&A at ICON who led the transaction, commented “The exit process took less than 4 months from engagement to completion. That is despite having serious interest from several overseas acquirers keen to expand in this fast consolidating sector. We are delighted that Silverbear chose ClearCourse who (with the backing of US based PE fund Aquiline Partners) have impressive plans to expand via acquisition in the membership space".

Gerry Gualtieri, Chief Executive Officer of ClearCourse, added, “The acquisition of Silverbear is an important milestone for ClearCourse as we continue to develop our platform. We aim to provide Silverbear, and companies like it, with the resources and support they need for continued growth and further our ultimate goal of bringing together the best-in-class membership management and payments software solutions in the UK market.”

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ICON advises on MBO of Cybersecurity software specialist SentryBay

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Deal Release:

Cybersecurity is a very hot sector and the market is going through a period of rapid growth as companies struggle to contain persistent cyber attacks and data breaches

Eddie Harding, Partner
ICON Corporate Finance

Sentrybay

12 Dec 2018

ICON has advised the management team of leading Cybersecurity software company SentryBay on the buy out of two early investors and providing investment for the growth of the company’s international sales and marketing operations.

SentryBay’s world leading Enterprise and Consumer product suites protect sensitive data on endpoint devices by providing secure browsing, application containerization and kernel-level malware protection to some of the world’s largest retail and investment banks and insurance companies.

As remote working/BYOD has become firmly established, and the number and type of attack surfaces are expanding exponentially, the challenge organisations face today is to minimise exposure of data on an unmanaged endpoint. SentryBay’s security solutions create a fortified environment on the endpoint from where users can securely transact with web-based services or make remote connections to the enterprise network.

The deal which was put together by ICON Corporate Finance comprised a debt facility from ESF Capital/ThinCats plus funding from a major US corporate investor.

Dave Waterson, CEO and former Cybersecurity Entrepreneur of the Year said, ”ICON were a great help in raising the finance and supporting the MBO. SentryBay is now poised to capitalise on the market opportunity and achieve it’s growth ambitions. SentryBay is in a unique position to enable the secure use of BYOD devices and assist enterprises to meet their compliance requirements, while creating innovative solutions that meet emerging threats."

Eddie Harding, Partner at ICON Corporate Finance who led the deal, added “I’m delighted that we have enabled management to complete this relatively complex recapitalisation transaction. Cybersecurity is a very hot sector and the market is going through a period of rapid growth as companies struggle to contain persistent cyber attacks and data breaches. This deal will allow the executive team to focus on investing in the growth of the business to create a global leader in endpoint protection software.”

This deal marks ICON’s 26th FinTech related transaction.

About SentryBay: SentryBay Limited is a privately held firm headquartered in London with offices in the USA and Australasia and with major blue-chip customers and partners globally. The company specialises in providing containerisation solutions for financial institutions and enterprises – securely wrapping PC-based and SaaS applications. With the move to a distributed workforce and BYOD, SentryBay facilitates this trend by creating secure containers - even on unmanaged PC’s - allowing users to securely run any application and transmit data. SentryBay also has a range of identity theft protection software and data monitoring services, with all software underpinned by patents.

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ICON secures funding for leading AI Healthcare Data and Analytics firm, Draper & Dash, from Guinness EIS Fund

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Deal Release:

Draper & Dash have an attractive proposition that should be in more hospitals and healthcare providers and we hope that our funding will allow the company to extend its reach

Edward Guinness, Fund Manager
Guinness EIS Fund

Draper Dash

01 Dec 2018

ICON Corporate Finance has secured £3m venture funding for Draper & Dash, a healthcare focused data analytics platform that is changing how hospitals and care providers access, understand and work with patient data, from Guinness EIS Fund.

Draper & Dash’s SaaS-based analytics platform uses advanced data science and machine learning techniques to predict patient flow and demand for hospitals and care providers. The platform supports healthcare systems to improve patient flow, drive cost improvement programs, create new strategic partnerships and ultimately improve health outcomes.

Draper & Dash has already successfully deployed its software into over 20 public and private hospitals and healthcare providers in the UK, US and Australia including the Royal Free London, Guy’s & St Thomas’ NHS Trust and Royal Melbourne Health, delivering significant cost savings and operational efficiencies for its clients.

Orlando Agrippa, Founder and CEO of Draper & Dash, said “our software platform business has been accelerating significantly recently and so we are raising capital to scale the business through increased penetration of our existing customers and territories, as well as converting our expanding pipeline of new prospects. We have tripled our AI and ML investment over the last year through a number of long-term projects with existing customers. Our strategy continues to focus on real value creation with better outcomes for healthcare providers and their patients.”

Eddie Harding, Partner at ICON Corporate Finance who advised management on the funding round, added “I’m delighted to have assisted Orlando and his team in raising this venture funding from Guinness. Draper & Dash’s analytics platform makes a real impact in driving efficiencies at healthcare providers globally, and most importantly improving patient outcomes.”

The new investment from Guinness Asset Management EIS Funds will allow Draper & Dash to continue to develop its product offering as well as grow its sales and marketing resource to expand into new territories. In 2019 the company plans to extend the capabilities of its industry-leading AI and ML integration for both its UK and international clients enabling even greater predictive analysis and personalised care for users.

Edward Guinness, Fund Manager at Guinness EIS Fund, commented “We look forward to working on building this business into a substantial contributor to service improvements for both public sector and private healthcare providers. We were impressed by Orlando’s team and have received positive feedback from customers on the Draper and Dash products. Draper & Dash have an attractive proposition that should be in more hospitals and healthcare providers and we hope that our funding will allow the company to extend its reach.

John Spearman, Chairman of Draper & Dash, added: “This is an important step for D&D. The value and potential of the company has been recognised now, not just by enthusiastic early investors, but also by a highly respected and well known fund.”

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ICON advises IMX Software on its sale to Infinea Group

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ICON advises IMX Software on its sale to Infinea Group

IMX

25 Oct 2018

ICON Corporate Finance, a specialist in Technology M&A, has advised IMX Software on its sale to Infinea, a high growth FinTech that is expanding globally from its base in South Africa.

IMX currency trading software solutions are deployed globally in major banking and money service organisations including: Thomas Cook, American Express, ANZ Bank, Bidvest, Credit Suisse, Commerzbank, RBS Group, Moneycorp, Change Group, Rand Merchant Bank, FOREX Bank, Travel Money Group and the Central Bank of Zambia.

IMX is a global leader in regulator-compliant currency trading technology, IMX Software specializes in delivering enterprise-grade software-as-a-service (SaaS) solutions to wholesale banknote dealers, FX retailers and remittance operators in 25 countries and has established offices in London, Johannesburg and Melbourne.

Brian Parker, ICON Head of M&A who led the transaction, said “As a global FinTech, with a leading position in retail and wholesale currency trading, IMX Software appealed to a range of overseas acquirers. Infinea, with its strong African presence in banking and travel technology were looking to expand globally and so were a great fit.”

Bill Tickner, IMX Software CEO said “the acquisition by Infinea represents an exciting new phase for IMX and the team is already contributing to the creation of a larger FinTech solutions and service delivery organisation. Existing customers will be unaffected by this change as the IMX companies in the UK, Australia and South Africa will remain and become part of the Infinea Group.

Fred Baumhardt, Infinea CEO commented that “Infinea is committed to building on IMX’s market leading specialisations and we will expand its financial services offerings, as well as consolidate other FinTech solutions under the IMX Software brand. This will bring all of Infinea’s financial technology innovations under one organisation with a proven track record of service delivery to customers in over 25 countries.”

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ICON advises MyLife Digital on £5.7m funding round

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Deal Release:

Barclays is excited to support MyLife Digital’s ambitions to be the world leader in personal data management and privacy

Juliet Rogan
Head of High Growth & Entrepreneurs, Barclays

My Life Digital

06 Sep 2018

MyLife Digital secures further funding to support the international roll out of its personal data management platform

Privacy technology and data analytics company MyLife Digital announces major new funding to support its international personal data management platform roll out.

  • BGF adds £3 million of funding to its initial £2 million investment made in 2016.
  • Barclays supports MyLife Digital’s growth ambitions with a £2.7 million venture debt facility.
  • MyLife Digital founding investors extend further significant private investment.
  • Funds will enable full roll-out of MyLife Digital’s Consentric personal data management platform globally.

UK-based privacy technology and data analytics company MyLife Digital has completed a new £5.7 million funding round to support the international roll out of its innovative platform.

MyLife Digital provides an enterprise Software-as-a-Service (SaaS) solution to help organisations manage the challenges around personal data, enabling them to build greater trust and engagement through data transparency with the citizens they serve. MyLife Digital, incorporating Wood for Trees and Insight Analysis, developed the Consentric SaaS platform as a world-leading personal data capability and launched to market in late 2017. Consentric adds value by reducing data misuse, enabling new service innovation based on data sharing, putting users in control, and generating trusted access to more, higher quality and more timely data from individuals as a result.

The Consentric platform already has six million registered individuals and a thriving partner community building on its open API to unlock and deliver its unique capabilities to users. MyLife Digital current partners include the Salesforce ecosystem, Experian and the REaD Group. The Consentric platform is an essential trust and engagement capability relevant to all of the leading enterprise technology stacks in existence today. MyLife Digital’s vision is to empower individuals to control how their personal data powers positive outcomes.

Bruce Finnamore, Chairman of MyLife Digital, adds: “We have built on the initial investment by BGF to grow from a start-up into an established company. With this further funding we now have the capital to accomplish our international ambitions and grow MyLife Digital to £120m turnover within three years. The latest investment will enable us to pursue our mission by further enhancing the capability of the Consentric platform, and to extend our partner footprint and client reach globally. Our aim is to be the world’s leading company in providing a trusted, safe and secure platform for personal data.”

Alan Bristow, CEO of ICON Corporate Finance, says: “We are delighted to have worked with MyLife Digital on this funding round. The team are building a very impressive and world leading business in trusted and secure personal data management and we look forward to their ongoing success”.

James Austin from BGF and board director of MyLife Digital, says: “Our additional investment demonstrates our confidence in MyLife Digital as an exciting technology company in the personal data management space. They have already grown quickly through the capital provided with the initial funding. This new investment enables them to accelerate their growth into international markets, through multi-national clients and further international partners.”

Juliet Rogan, Head of High Growth & Entrepreneurs at Barclays, says: “Barclays is excited to support MyLife Digital’s ambitions to be the world leader in personal data management and privacy. Barclays is the only bank to have a national High Growth & Entrepreneurs team and the venture debt facility provided reflects both the potential of MyLife Digital’s innovative business model and the strength of the management team. It also demonstrates Barclays’ commitment to backing high growth, innovative companies both in the South West and across the UK.”

The Barclays loan will be backed by a guarantee from the European Investment Fund (“EIF”) and has been enabled by the InnovFin initiative with financial backing from the EU’s Horizon 2020 programme.

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ICON advises Optimum Contact on its sale to IQVIA (formerly Quintiles & IMS Health)

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Deal Release:

ICON advises Optimum Contact on its sale to IQVIA (formerly Quintiles & IMS Health)

Optimum contact

29 Mar 2018

ICON Corporate Finance, specialists in M&A for technology companies, has successfully advised on the sale of Optimum Contact, a leading provider of SaaS-based Patient Feedback and Audit Compliance Software, to US global HealthTech provider IQVIA, which was formed following the merger of Quintiles and IMS Health.

Optimum Contact is a leading provider of quality, safety and performance improvement systems to the NHS, including patient feedback, audit compliance, outcomes and more, receiving awards for its work to improve patient safety.

IQVIA is a leading global information and technology services organisation with more than 55,000 employees across 100 countries. IQVIA already supports the NHS at both national and local levels, supplying costing, benchmarking and analytical services. With the addition of Optimum Contact, those services will now be available to over 156 NHS Trusts and Healthcare organisations.

Peter Lane, Head of IQVIA UK & Ireland Healthcare, said “We have a strategic focus on enabling unique insights generated by both clinicians and patients at the front line of care. Optimum Contact’s leading position as an enabler of these insights complements our core analytics capabilities, especially analyzing complex health economy data, and also our performance improvement products like costing and revenue enhancement.”

Chris Williams, CEO of Optimum Contact, said “Bringing the two businesses together allows us to offer further unique and powerful capability to our combined NHS clients and to the wider healthcare and life sciences market. The healthcare support portfolio we will now take to the market is a rich suite of solutions and services that offers potential for step-change performance improvement at clients and expansion into new areas of the market.”

Ian Lyons, Founder and Chairman of Optimum Contact, said “ICON ran a very effective process and secured a great deal of interest in the business, including large US organisations. IQVIA is a perfect fit and offered added value, and as a result the sellers, the buyers, the staff and our customers are all very pleased with the outcome.”

Eddie Harding, Partner at ICON Corporate Finance who led the deal, added “Optimum Contact have carved out an enviable leadership position for their SaaS Feedback, Audit and Performance improvement products in the UK’s Healthcare sector and we were able to generate significant competition for the deal. We are experiencing increasing M&A demand for proven and scalable HealthTech opportunities, especially solutions such as Optimum Contact which are transforming healthcare delivery.”

This transaction represents ICON's third HealthTech deal in as many months.

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ICON advise Mosaic Smart Data on Strategic Investment by JP Morgan

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Deal Release:

J.P. Morgan’s investment is testament that our technology has been built specifically for the challenges of capital markets

Matthew Hodgson, Founder & CEO
Mosaic Smart Data

Matt photo

14 Mar 2018

ICON have advised Mosaic Smart Data on a strategic investment by JP Morgan.

Mosaic Smart Data help banks make their fixed-income sales and trading businesses more profitable. The platform helps visualize data and can be used by traders to figure out which clients are more likely to be interested in a given deal. It can also be used by bank bosses to track trading desk and trader performance.

Mosaic will use the funding to double its headcount and expand its platform to cover additional asset classes for new and existing clients.

Matthew Hodgson, Founder and CEO of Mosaic Smart Data said: “J.P. Morgan’s investment is testament that our technology has been built specifically for the challenges of capital markets. We look forward to using the investment to further empower our clients to gain insights across asset classes. Data analytics and artificial intelligence are changing the face of investment banking. Banks understand that the insights locked away in their transaction and market data are potentially some of their biggest competitive advantages. They already have the raw materials, but Mosaic Smart Data’s real-time data analytics platform MSX® gives them the tools to aggregate and standardise that data and put it to work intelligently.”

Alan Bristow, CEO, ICON Corporate Finance who acted for Mosaic on the deal added: “We’re extremely excited and proud to have advised Mosaic Smart Data on this landmark deal with one of the world’s largest investment banks. Mosaic has built an exceptional platform, leveraging technology that enable banks to monetise their data and this investment will help accelerate Mosaics growth into a massive global market opportunity.”

This transaction further supports ICON's FinTech deal expertise which includes among others the strategic investment by Aviva into Wealthify, Synova Capital & FiveW Capital's investment into Merit, the acquisition of Cypad by ParentPay and Parmenion by Aberdeen Asset Management.

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ICON Advise on Sale of Cypad to UK’s Leading Cloud Schools Payment Provider

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Deal Release:

Enriching Cypad’s product capabilities with our scale, reach and delivery expertise, adds a new dimension to the business

Clint Wilson, Group Chief Executive
ParentPay

Cypad

27 Dec 2017

ParentPay Limited, the UK’s leading provider of online payment and income management for schools, has acquired Cypad, a leader in tablet and cloud solutions for school catering, local authorities and catering service organisations.

The deal extends ParentPay’s existing dinner money management and parent meal booking application with a suite of apps that support the entire process of providing a school meals service: selecting meals; managing production; recording meals taken; service monitoring, and providing performance indicators.

The combination of ParentPay and Cypad creates a comprehensive, yet cost-effective tablet based solution for individual primary schools, multi-academy trusts, local authorities through to the largest school contract catering operators in the UK. Together, the companies employ more than 200 people, serve over 12,500 schools in more than 190 local authorities across the UK, and provide services to more than 4 million parents.

Jonn Fredericks, Managing Director of Cypad, commenting on the deal said: “ParentPay’s leading position in the school payments market and its continued strong growth, brings a compelling opportunity for Cypad. Gaining access to ParentPay’s significant customer base and leveraging their highly successful national field sales operation, means we can expand in ways we never thought possible. Together, we can deliver an integrated school meal solution for individual primary schools, through to a complete catering management service to large scale contract operators. We’re excited about the journey ahead, and the opportunity to build deeply integration solutions that deliver more for our customers.”

Alan Bristow, CEO of ICON Corporate Finance who acted for Cypad on the exit added: "We previously sold Jonn's business Cymap in 2000 to the Hungarian software Group Graphisoft and he was one of ICON's very first clients. So I am delighted to see him join an elite group of software entrepreneurs who have once again disrupted the market and created another very successful software business. We are delighted to have acted for Jonn on the exit of Cypad, he has been at the forefront of innovation in the cloud and it is no surprise he attracted the attention of the market leader in the U.K."

Clint Wilson, Group Chief Executive of ParentPay added: “Enriching Cypad’s product capabilities with our scale, reach and delivery expertise, adds a new dimension to the business, allowing us to extend deeper into our customers’ operations, delivering even greater value to them.”

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ICON client Honeycomb merges with Group IMD to shape the future of video advertising

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Deal Release:

ICON client Honeycomb merges with Group IMD to shape the future of video advertising

Honeycomb

21 Dec 2017

Global video advertising distribution business Group IMD has announced it is to merge Honeycomb an advanced SaaS video fulfilment platform with programmatic advertising capability. The combined business will provide customers across more than 100 countries with revolutionary technology that will accelerate access to addressable and programmatic video advertising across TV, online and Video on Demand (VoD).

Together, Group IMD and Honeycomb will enable the TV industry to offers advertisers advanced audience targeting, accurate data and improved overall performance already currently enjoyed by online publishers like Google and Facebook. This revolution could double TV ad spend in value from $50 billion to $100 billion in the US alone by 2030, according to predictions made by Credit Suisse.

James Carpenter Founder and CEO of Honeycomb commented “TV has always been the darling of the advertising world, but the proliferation of online advertising has made accurate targeting and measurement increasingly important. By integrating technologies to underpin targeted and trackable advertising, we’re not only able to make TV and all of its variants more accessible making budgets work harder, we can also help broadcasters and publishers create new revenue streams in the face of increasingly sophisticated competitors.”

Honeycomb was founded by James Carpenter and Richard Carter. Honeycomb’s video fulfilment platform was built to power a programmatic, data-driven future. Honeycomb works with broadcasters like Sky, ITV and Channel 4 to understand the challenges they face and create smart solutions, helping them streamline processes, manage and track ads, ensure compliance and enable full integration with content distribution networks. For more information, please visit honeycomb.tv and honeycomb.tv/broadcast

Simon Cox CEO of Group IMD added: “The exciting thing about this merger is that it’s not about sticking with the status quo — this is about driving a bigger shift in the market as a whole. By bringing these two companies together, we will have the game-changing technology, global reach and incredible team needed to transform the industry.”

Founded in 1996, Group IMD has built a global business used by thousands of media owners, agencies and production companies in over 100 countries. Group IMD launched the world’s first fully automated broadcast quality video advertising workflow platform, enabling automated quality control, real-time collaboration and fast distribution, 24/7. Group IMD is a trusted partner for global clients including Unilever, L’Oreal and Universal Pictures, and recently fulfilled the first ever digital distribution of TV commercials in Japan.

The transaction is a share swap deal which will see continued support from its investors, including Inflexion which invested in Group IMD last year and Beringea which participated in Honeycomb’s Series A funding round last year.

Eddie Harding Partner at ICON Corporate Finance said “Honeycomb has achieved significant growth of its SaaS video advertising distribution product in an incredibly short space of time, and Group IMD’s desire to merge with Honeycomb is testament to the experience, innovation and vision of Honeycomb’s Founders, James and Richard.”

The Deal:

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ICON advises Wealthify on Investment by Insurance Giant Aviva

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Deal Release:

This is another important step in Aviva’s digital strategy. It underlines our commitment to invest in and partner with leading digital businesses, allowing our customers to benefit from new technology

Blair Turnbull, Managing Director
Aviva UK Digital

Wealthify aviva

06 Oct 2017

The Online Investment Platform which is democratising investing

ICON Corporate Finance have advised Cardiff-based Wealthify on its investment by Aviva PLC.

Wealthify is a low cost 'robo' investment service which is making investment affordable and accessible to the UK mass market. Aviva has announced its agreement to make a significant investment in the company and will become a majority shareholder. The transaction is subject to regulatory approval.

Wealthify aims to attract cash savers, millennials and those who are new to investment by providing a simple, easy to use and low fee digital investment service. For a minimum investment of £1 customers can invest in one of five diversified investment plans through ISAs and general investment accounts. Wealthify offers a fully digital service available across desktop, tablet and mobile that has been recognised for delivering impressive levels of simplicity and ease-of-use.

Wealthify will be accessible to Aviva’s customers through MyAviva, where it will be available alongside other Aviva products and services. Aviva’s investment will also support Wealthify’s business development and customer acquisition, helping to accelerate Wealthify’s future growth plans.

Alan Bristow, CEO of ICON Corporate Finance, said:

“We are delighted to have acted as corporate finance adviser to Wealthify for this transaction. With Aviva’s support and investment, I believe Wealthify can build on its success to meet the changing needs of investors. The Wealthify platform is super slick and in a very short period from start-up, Wealthify has delivered an innovative, disruptive and fully digital ‘effortless investing‘ platform for the mass market, who previously have not had access to world class and simple-to-use investment services. I am delighted for the team and with this investment there are very exciting times ahead for this innovative, digital FinTech leader.”

Richard Theo, Co-founder and CEO of Wealthify, said:

“This significant investment in the emerging ‘robo’ market, by one of the world’s largest and most recognised financial services brands, is validation of the vision we set out to achieve three years ago to change investing for the better. Aviva’s investment and access to their millions of UK customers gives us confidence that we can become the leader in this market in the UK and beyond.

“We are particularly proud that our business was born in Cardiff, home to a thriving financial services, software and start-up eco-system, which benefits enormously from the Welsh Government’s vision to position Cardiff and Wales as one of the UK’s leading locations for fintech and entrepreneurs.

“Aviva’s investment in our business reflects a clear shift in market demand for high-quality, technology-enabled financial services solutions like Wealthify. With the backing of such an established and trusted consumer finance brand, we feel ever more confident in our mission to bring the benefits of investing to mass-market savers and encourage them to embrace our service as a hassle-free way to invest.

“The capital investment from Aviva will be used primarily to accelerate our ambitious growth plans as well as develop our technology to enhance the proposition. We will remain focused on simplicity, affordability and transparency, and strive to make investing accessible to everyone.”

Blair Turnbull, Managing Director, Aviva UK Digital, said:

"Wealthify aims to take the complexity out of investing. It is remarkably easy to use, with no complicated jargon, no expensive fees, and you can start investing with as little as £1. It is particularly aimed at traditional cash savers, who are seeking to diversify their investments, and also at millennials who appreciate an effortless and straightforward digital experience.

“Wealthify combines a smart management team with great technology and a start up culture. Together with the brand and financial strength of Aviva, we are very excited about the future opportunity, making Wealthify available to Aviva customers through the convenience of our MyAviva online and App experience.

“This is another important step in Aviva’s digital strategy. It underlines our commitment to invest in and partner with leading digital businesses, allowing our customers to benefit from new technology and making insurance and investments simpler, easier and more convenient.”

This represents another deal for ICON in the wealth management space, having previously sold Parmenion to Aberdeen Asset Management.

The Deal:

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ICON advises EMR software company Clinical Computing on its sale to Quantitative Medical Systems

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Deal Release:

This acquisition expands QMS’ presence in the renal software marketplace and will benefit both current and future customers of QMS and Clinical Computing

Paul Benson, General Manager
QMS

Clinical Computing

04 Oct 2017

ICON Corporate Finance, specialists in M&A for tech companies, has advised EMR (Electronic Medical Record) software company Clinical Computing on its sale to dialysis specific software provider Quantitative Medical Systems.

Headquartered in the UK, with subsidiaries in the US and Australia, Clinical Computing is the developer of a web based EMR solution for the kidney therapeutics market. The company’s solution, captures and manages, at scale, all aspects of a health provider’s clinical, regulatory and operational requirements for effectively managing kidney disease programmes. Clinical Computing’s technology platform serves an estimated 10,000 clinicians across 200 health centres processing millions of clinical records yearly across North America, EMEA and Asia-Pac.

Quantitative Medical Systems offers dialysis specific software solutions to healthcare providers in the US. QMS is part of the Perseus operating group of Constellation Software Inc., an international software company traded publicly on the Toronto Stock Exchange. Constellation Software Inc., acquires, manages, and builds software businesses which provide specialized, mission-critical software solutions.

Sanjay Gandhi, CEO of Clinical Computing, said, “We believe our respective products and markets are complementary and provide our customers and staff with increased choice and opportunity. We are pleased to be part of the QMS Group.”

Paul Benson, General Manager of QMS, said, “This acquisition expands QMS’ presence in the renal software marketplace and will benefit both current and future customers of QMS and Clinical Computing. We look forward to working closely with the team at Clinical Computing.”

Simon Moynagh, Partner at ICON Corporate Finance, who led the deal, commented, “Healthcare is undergoing a radical change with new information technology applications bringing the industry into the 21st century. Clinical Computing operates where the two major growing markets of EMR software and kidney therapeutics overlap, and as such garnered a great deal of international interest and we are delighted to have secured QMS as the acquirer.

“We have worked closely with Clinical Computing for over four years having previously sold their PPM software division, Hydra to Latin American based eTask. We were therefore delighted to have been given the opportunity to advise them on the sale of the core business and are pleased to have secured such a good result.”

Testimonial

“The medical technology provided by Clinical Computing is used by hospitals in Europe, North America and Australia. The sale involved a number of complex international aspects, working with a trusted adviser that skilfully managed these elements of the transaction proved very valuable and led to the deal being completed within a short time frame. It was a pleasure working with the team at ICON.” Sanjay Gandhi, CEO of Clinical Computing.

The Deal:

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ICON advises PleaseTech on its sale to Ideagen Plc

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Deal Release:

PleaseTech brings to the Group outstanding intellectual property in the form of its PleaseReview software which will complement our existing product suite, particularly helping to strengthen our position in Life Sciences

David Hornsby, CEO
Ideagen

Please Tech

27 Mar 2017

ICON Corporate Finance, specialists in M&A for tech companies, has advised PleaseTech on its sale to Information Management Software provider Ideagen Plc.

UK-based PleaseTech specialises in the development of software solutions for collaborative authoring and review of corporate documentation. Its product is used within document intensive environments to reduce the time and cost associated with the production of content and ensure compliance with industry regulations.

PleaseTech has over 180 customers worldwide using its PleaseReview software product including 70% of leading pharmaceutical and biotech organisations and four of the largest defence organisations globally. PleaseTech also has a significant customer base in government, transport and manufacturing.

Alan Bristow, CEO of ICON Corporate Finance, who advised the management of PleaseTech on the sale said: “ PleaseTech is an excellent business with a leading position in Pharma market, it has strong recurring revenues and significant growth opportunities as it expands into other document intensive industries. It was no surprise that the business received considerable attention and was attractive to a range of internationals acquirers. Ideagen was selected due to the strong strategic fit and its ambitions for the future growth of the business.”

David Hornsby, CEO of Ideagen said the acquisition would consolidate the company’s position in several industries, particularly within Life Sciences.

He stated: “PleaseTech brings to the Group outstanding intellectual property in the form of its PleaseReview software which will complement our existing product suite, particularly helping to strengthen our position in Life Sciences. The acquisition of PleaseTech is an exciting addition and a significant development in the future of Ideagen. It once again re-iterates our commitment to our long-term growth strategy of acquiring business with strong IP and healthy recurring revenues.”

David Cornwell, CEO of PleaseTech Ltd said: “ICON provided excellent advice throughout the process. When, after an approach, we decided to look at options, ICON was able to generate very healthy interest from a range of international buyers and, in the end, secured an acquirer that was not previously known to us. Needless to say, we are very pleased with the outcome and achieved all of our core objectives on the sale of PleaseTech with their help.”

The Deal:

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ICON advises Focus Group Europe on its sale to Accenture

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Deal Release:

ICON advises Focus Group Europe on its sale to Accenture

Servicenow Accenture

24 Mar 2017

ICON Corporate Finance have advised the shareholders of Focus Group Europe on its sale to Accenture. Focus Group Europe is a London based, privately owned, consulting services provider and software reseller and is one of the largest remaining pure-play ServiceNow® consulting partners in the UK. Focus Group Europe was founded in 2009 and earned ServiceNow’s coveted Gold Services and Sales Partner designation.

The acquisition of Focus Group Europe is part of a strategic growth plan aimed at strengthening Accenture’s position as a leading provider of ServiceNow services and cloud implementations globally. It follows the acquisition of Germany-based solid-serVision earlier this year, Nashco, a leader in the Canadian ServiceNow market, in November 2016 and US-based Cloud Sherpas in 2015.

Brian Parker head of M&A at ICON Corporate Finance commented: “There has been a wave of overseas acquirers in the UK Technology sector in the past few years. In fact 7 of our last 10 exits have been to overseas owned acquirers – including major corporates such as Accenture, Thomson Reuters, NTT and Telstra. Buyers are looking for well run, profitable and growing businesses; Focus Group Europe ticks all these boxes. We generated good buyer interest but shareholders chose Accenture partly due to the strong cultural fit”.

John Gilleran CEO of Focus Group Europe commented: “Selling a business is a far from straightforward journey. We were delighted with Brian from Icon, he introduced us to a variety of interested buyers and negotiated an attractive deal for shareholders but also provided solid advice to help us navigate around the banana skins that were thrown in our direction”.

Accenture had $33bn in revenues in 2016 and employs nearly 400,000 staff, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. The acquisition solidifies Accenture’s position as a leader in the ServiceNow partner ecosystem and adds more than 70 professionals to the team and, in combination with recent German acquisition solid serVision, creates a powerhouse in the region.

Ciaran Cosgrave, Managing Director and EALA Lead of Accenture ServiceNow Practice said: “Combining Focus Group Europe’s talent and sales and delivery capabilities with Accenture’s client portfolio, global workforce and industry and functional expertise creates a powerful platform to drive growth, and is a natural complement to Accenture’s regional and global position.”

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ICON advises benefits pioneer LogBuy on its sale to Nordic software group Visma

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Deal Release:

We are happy and proud to have LogBuy as a part of Visma and to continue to build upon the good work of Lars Peter Busch and Susanne Laursen

Henrik Salwen, CEO
Visma

Logbuy Employee Benefits

13 Feb 2017

ICON Corporate Finance, specialists in M&A for tech companies, has advised LogBuy on the sale of its Danish business to the Oslo based Nordic software giant Visma.

The sale of the Danish business to Visma follows on from the successful sale by ICON at the end of 2016 of Logbuy’s UK operations to UK’s employee benefits market leader Reward Gateway.

LogBuy’s Employee Engagement platform offers Reward & Recognition, Salary Sacrifice services, deals and discounts on over 10,000 brands, for over 650,000 employees of large organizations throughout Europe. Customers include Lego, Grundfos, McDonalds, Siemens, Motorola, Coloplast and Microsoft.

Logbuy is the market leader in Denmark.

Visma is a leading provider of business solutions, software and outsourcing in the Nordics, the company has over 40,000 customers and the purchase of LogBuy will enable the company to broaden their product portfolio to include staff benefits and the ability to offer companies operating in Scandinavia reduced costs for the purchase of various goods and services.

Alan Bristow, CEO of ICON Corporate Finance, who advised the management of LogBuy Denmark on the sale said: “We are delighted to have completed this second transaction within such a short period of time following on from the sale of the UK operations. To complete the sale to one of the leading business software companies in Northern Europe is once again testimony to the on-line business that Susanne and Lars Peter have created. We are delighted to have secured Visma as the acquirer for LogBuy. They are the perfect strategic fit as they seek to strengthen their market dominance in the Nordic Regions.”

Henrik Salwen, CEO of Visma said, “The acquisition is in line with our strategy to create a combined purchasing power in the Scandinavian market. We are happy and proud to have LogBuy as a part of Visma and to continue to build upon the good work of Lars Peter Busch and Susanne Laursen.”

Lars Peter Busch, Chairman of Logbuy Group said, " We are delighted with the outcome of the M&A process. ICON secured two market leaders in their respective territories and demonstrated their high level of professionalism, deal negotiating skills and tenacity throughout in achieving these two very good deals for the shareholders of Logbuy".

The Deal:

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ICON advises benefits pioneer LogBuy on its sale to Reward Gateway

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Deal Release:

Today’s news means that the employees of over 200 companies that use LogBuy will have access to a wider range of rewards, and the tools to thank and recognise each other

Glenn Elliott, Founder & CEO
Reward Gateway

Reward Gateway 2

20 Dec 2016

ICON Corporate Finance, specialists in M&A for tech companies has advised benefits pioneer LogBuy on its sale to Reward Gateway.

LogBuy, founded in Denmark, provides benefits programmes to more than 200 organisations in the UK, including Philips Electronics, Carlsberg, GlaxoSmithKline, Grass Roots and Laing O’Rouke. It’s Employee Engagement platform, offers Reward & Recognition, Salary Sacrifice services, deals and discounts on over 10,000 brands, for over 650,000 employees of large organizations in the UK and Europe.

Reward Gateway who help the world’s leading companies like American Express, Samsung and IBM to attract, engage and retain their best people, have joined forces with LogBuy to deliver employers access to a 24/7 employee help desk, as well as a product range, which includes employee communications, wellbeing schemes and SmartHub, an integrated employee engagement platform.

Alan Bristow, CEO of ICON Corporate Finance, who advised the management of LogBuy on the sale: "Susanne and Lars Peter have created a tremendous online business and it is no surprise we had significant interest from major companies in the sector. We are delighted to have secured Reward Gateway as the acquirer for LogBuy UK. They are the perfect strategic fit for them as they seek to strengthen their market dominance.”

Reward Gateway’s Founder & CEO, Glenn Elliott said, “We’re looking for any opportunity to make the world a happier place to work, and today’s news means that the employees of over 200 companies that use LogBuy will have access to a wider range of rewards, and the tools to thank and recognise each other.”

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ICON secures £3m Series A funding for Digital Preservation SaaS software specialist Preservica to fuel expansion

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Deal Release:

ICON secures £3m Series A funding for Digital Preservation SaaS software specialist Preservica to fuel expansion

Preservica

19 Dec 2016

UK tech company is transforming the way organisations future-proof digital information

ICON Corporate Finance has secured £3 million funding from Mobeus Equity Partners for Oxfordshire based Preservica to accelerate the uptake of its digital preservation software which is already in use at over 100 corporate and public sector organisations, including BT, HSBC, Transport for London (TfL), the Associated Press (AP), Yale University, New York’s Museum of Modern Art (MoMA) and 16 US State Archives.

Preservica protects and future-proofs digital content which is fragile and can be easily lost or worse, stored in formats that become obsolete and therefore can no longer be used. Technology analyst firm Gartner highlighted this in its 2015 Content Management report: “As formats change, software is retired and hardware becomes obsolete, the data that organisations want to keep can be lost forever.” Preservica’s unique SaaS based active digital preservation software addresses this challenge head on, ensuring digital content is not just securely stored, but also automatically upgraded into formats that can be used and read by future applications and technologies.

Eddie Harding, Partner at ICON Corporate Finance, who ran a competitive process for the funding round and advised management on the deal, said “Preservica is a market leader in a sector which is becoming increasingly vital for government bodies and major global corporate enterprises. We are delighted to have helped Preservica secure this funding which will enable it to expand its sales and marketing operations in the US and throughout Europe.

Mike Quinn, CEO of Preservica said “Working with ICON on our Series A fundraising was an extremely valuable experience for Preservica. ICON’s deep knowledge of the technology investment market, and how to best approach potential investors with our unique business value proposition for Digital Preservation, paved the way for significant interest from a number of investment partners, and resulted in a great outcome for the company and our stakeholders.

Mike added “Our current product offering is already recognised as the gold standard for digital preservation at major corporations and institutions worldwide. Everyone at Preservica is delighted by the investment and support we’ve received from Mobeus Equity Partners. It is a real validation of the potential of the business and the growing demand for a digital preservation solution that enables organisations to protect the value of their vital digital information. The funding will allow us to expand our partnering program and accelerate our product vision to make digital preservation a seamless part of the information lifecycle.

Organisations such as TfL are using Preservica’s platform to work with digital information that is key to maintaining its vast infrastructure, including retaining operating designs for machinery with an expected life-span of 50 years or more. Government agencies, like the Texas State Archives Commission are mandated to retain and provide transparent citizen access to government records indefinitely.

The cloud also has an important role to play as more organisations adopt a “cloud first” approach and leverage the cost-efficiencies and inherent durability of cloud storage for safeguarding digital information. Preservica’s SaaS based software is architected to take advantage of this, allowing organisations to run the software in the cloud or use a hybrid mix of cloud storage connected to an on-premise deployment. The company’s partnership with Amazon Web Services (AWS) will also be a key part of its expansion plans.

Trevor Hope, Partner, Mobeus Equity Partners who led the investment “Preservica is a unique technology company with strong vision and an impressive set of customers. The company has an ambitious plan for growth and a product vision that is transforming the way organizations protect and future-proof digital information. This is a disruptive offering, well matched to a vast and growing unmet market need.

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ICON secures £4.1m Series A funding for Matillion from YFM Equity Partners

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ICON secures £4.1m Series A funding for Matillion from YFM Equity Partners

Matillion Unquote

05 Dec 2016

ICON Corporate Finance has advised Matillion Limited, a leading provider of cloud-based data integration technologies, on a £4.1m Series A investment round with YFM Equity Partners.

Matillion delivers technology that helps companies exploit their big data using the Cloud. The Company has developed the world’s fastest ETL (Extract, Transform & Load) software product for Amazon Redshift, the data warehousing service on the Amazon Web Services (AWS) platform.

Matillion is one of AWS’s few Big Data Competency holders worldwide and its products have a rapidly growing customer portfolio of Fortune 500 and “Born-On-The-Cloud” “tech” customers across the US, UK and EMEA. Headquartered in Greater Manchester, Matillion opened its first international office in New York last month. The funding will be used to support the ramp up of the company’s sales and marketing operations in both the US and the UK as well as the continued growth of the development team.

Eddie Harding, Partner at ICON Corporate Finance who ran the funding process and introduced YFM to the company said “We are delighted to have secured this funding for Matillion which will enable management to continue to accelerate the Company’s entry into the rapid growth cloud-based Big Data Integration sector. Matillion has built a dominant position as a SaaS leader in the ETL space and this investment will enable the business to expand its US and UK operations and capitalise on the significant potential created by its success in the AWS marketplace”.

Matthew Scullion, MD at Matillion, added ”This funding will help us continue to realise the immense opportunities that stem from delivering cutting-edge structured data integration capabilities for the growing number of businesses, large and small, that are exploiting cloud-based database technology. We are delighted to have YFM’s backing and are looking forward to working together with the team, Pieter and Brian to become the leader in next-generation Data Integration.”

As part of its investment, YFM introduced Pieter Knook as Non-Executive Chairman who brings a wealth of technical and commercial expertise. Pieter spent 18 years at Microsoft, becoming one of its top 25 executives and was subsequently Internet Services Director at Vodafone. Pieter is joined by Non-Executive Director Brian Gentile, formerly CEO of BI company Jaspersoft which was acquired by TIBCO Software, and who previously held senior roles at Informatica, Sun Microsystems (now Oracle), NCR Corporation and Apple.

Commenting on this investment, Deborah Heyes, Investment Director at YFM, said "Matillion has a great opportunity to capitalise on the push to migrate data and systems to the Cloud. Its data integration platform is 100 times faster and easier to use than traditional ETL technology. We have been impressed by the team’s commitment to becoming the de facto choice for unlocking the power of cloud-based databases and are excited to back their future growth plans.”

Matillion was also advised by Janine Suttie and Ylan Steiner of King & Wood Mallesons; YFM by Jonathan Robinson, Vicky Ross and Nick Hawthorne of DWF LLP. Financial due diligence was provided by Russell Armstrong of RSM Corporate Finance LLP; Commercial due diligence by Phil Stone and Jamie Berridge of Plural Strategy and Human Resource DD by Anna Cornwallis at Stratton HR.

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ICON secures funding for ContactEngine from Amadeus and Beringea

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Deal Release:

ICON secures funding for ContactEngine from Amadeus and Beringea

Contact Engine Beringea

16 Sep 2016

ICON Corporate Finance has advised ContactEngine and its shareholders on a £2m investment by Amadeus Capital Partners and Beringea.

ContactEngine, a London-based technology leader in the automation of customer conversations, has raised the investment to fund its expansion into Europe and the Americas. ContactEngine helps companies with large customer service operations achieve unparalleled response rates to customer communications, enabling them to deliver significant cost savings, drive business performance and improve customer satisfaction. Major clients include Virgin Media, Sky, Whirlpool, Telecom Italia and British Gas. The Company has already established a presence in Italy, Germany and Brazil and will use the funding to further develop its offering, reach and partnership network.

Dr. Mark K. Smith, CEO and founder of ContactEngine, commented “ContactEngine is a highly successful business which delivers unique services to clients. As consumer behaviour and communications become more complex and multi-faceted, we have a clear opportunity to project this success globally. The injection of new capital will allow us to take our proven model and expand into North America, South America and mainland Europe, as well as deliver further enhancements to our AI and Machine Learning capabilities.”

Mark added “Fundraising is never simple and having a guide though the process is extremely helpful. ICON supported us throughout the journey and it is testament to their abilities that this ultimately led to a successful conclusion with two of the best VCs in our space investing.”

Eddie Harding, Investment Director at ICON Corporate Finance, who advised the Company on the deal said "Following a highly competitive process, I'm delighted we've been able to attract two such experienced, high profile tech investors as Amadeus Capital and Beringea. Mark and his team have established ContactEngine as a market leader in SaaS-based Customer Comms tech, achieving unparalleled response rates for its customers. This funding round will help the Company drive further product development and scale its sales and marketing operations globally, positioning it strongly for further growth."

Alex van Someren, Managing Partner of Early Stage Funds, Amadeus Capital Partners, added “ContactEngine is at the vanguard of growing consumer demand for consistent, high-quality service across all communications platforms. We are confident that Amadeus Capital’s investment will help the company break new ground with its outstanding technology.”

Stuart Veale, Managing Partner at Beringea, commented “We recognise that improving the efficiency of customer service operations is vital to the success of many businesses and ContactEngine’s omni-channel approach to customer communications is a highly effective way to do this. ContactEngine already works with many major UK corporations to improve their customer communications, and the company has a huge opportunity to expand its client list, both in the UK and internationally.”

Mathias Loertscher and James Taylor of Osborne Clarke acted on behalf of the Company, and Neil Blundell and Andrew Collins of Bird & Bird acted for the investors.

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ICON advises Applicable Ltd on its sale to Arkadin, an NTT Communications company

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Deal Release:

The acquisition of Applicable is an important milestone for Arkadin to enable all businesses, from SMBs to the largest enterprises, to harness the full power of Unified Communications for greater workplace productivity

Olivier de Puymorin, Chairman & CEO
Arkadin International

Applicable unifed comms

15 Sep 2016

ICON Corporate Finance, specialists in M&A for tech companies, has advised Applicable Limited on its sale to Arkadin International SAS, an NTT Communications company and one of the largest and fastest growing providers of Unified Communications (UC) and Collaboration services.

Applicable is a leading provider of cloud UC and enterprise voice services to enterprise organisations in a network of carrier grade data centers in the US, Europe and Asia. The Company has over 100 staff with offices in Bristol, Brisbane and Houston.

Applicable’s 12-year track record of success in building, implementing and managing cloud-based Microsoft Lync and Skype for Business for large enterprises will enable Arkadin to expand its global reach and bring the value of UC services to large and global companies. Applicable’s expert team already hosts more than 330,000 UC users through its ‘ISO/IEC 27001:2013’ certified global private cloud platform.

“The acquisition of Applicable is an important milestone for Arkadin to enable all businesses, from SMBs to the largest enterprises, to harness the full power of Unified Communications for greater workplace productivity,” said Olivier de Puymorin, Chairman and CEO of Arkadin International. “Our highly complementary portfolios and service strategies, coupled with shared cultural values and an aggressive vision for growth, present a huge opportunity for our global customers and partners to have the benefits of a private and fully managed cloud-based UC solution.”

While Applicable will continue to run its operations independently, the two companies will collaborate on product development and long-term strategic planning. With this acquisition, Arkadin strengthens its portfolio of UC solutions available to the Large Enterprise market by combining global UC & Telephony services supported by local presence. This offer supplements the existing portfolio centered on Arkadin Total Connect, a multi-tenant Microsoft Skype for Business hosted service. This service provides a fully integrated UC ecosystem with voice-enabled Office 365, audio/web/video conferencing and contact center.

“We are thrilled to be joining Arkadin and are certain it will benefit all stakeholders, including our talented workforces and current and future customers,” said Applicable Managing Director, Alan Baldwin. “Our combined resources and shared passion for enabling organisations to collaborate, will successfully deliver integrated Microsoft UC services that meet the essential quality of experience requirements of enterprise customers. Arkadin’s global telephony and local approach to service, together with Applicable’s expertise, offer customers a complete UC service.”

Simon Moynagh, Director at ICON commented, “We ran a full international M&A process and are delighted to have secured Arkadin/NTT Communications as the acquirer. Unified Communications is a rapidly growing market and this represents a significant deal for the sector.”

Applicable’s shareholders were also advised by the corporate and commercial team at law firm Royds Withy King and tax advisers at Bishop Fleming. Katharine Mortimer, a partner at Royds Withy King said, “This was an exciting and complex deal to work on with several international elements. In addition to its Bristol office, Applicable has a US subsidiary and an Australian branch so there were some interesting legal and tax issues to consider. We wish them every success as they embark on the next stage of their journey.”

Paul Morris, tax partner at Bishop Fleming in Bath, added: “It was great to be part of the team advising on this transaction and there were inevitably some complexities to resolve along the way. The acquisition of Applicable will no doubt generate exciting opportunities for the combined businesses going forward.”

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ICON advises industrial IoT company Marimatech on its sale to Trelleborg

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Deal Release:

This transaction will enable us to strengthen our offering as an attractive turnkey supplier of marine docking and mooring solutions for owners and managers of ports and vessels

Fredrik Meuller
President of the Trelleborg Offshore & Construction

Marimatech 3

15 Jan 2016

Trelleborg has acquired Marimatech A/S, a market-leading company in marine positioning and piloting systems, primarily specializing in the development of software used for docking or mooring ships offshore or in ports. The acquisition will broaden and supplement Trelleborg’s product portfolio within berthing, docking and mooring solutions for ports and vessels.

Marimatech has its head office and production site in Aarhus, Denmark. The company’s global sales totalled approximately SEK 50M in 2014.

Commenting on the acquisition Fredrik Meuller, President of the Trelleborg Offshore & Construction business area said: “The acquired company has a successful navigation and ship positioning product line using the latest 'smart' technology, which can be used on other marine applications and integrated with our existing range of products. This transaction will enable us to strengthen our offering as an attractive turnkey supplier of marine docking and mooring solutions for owners and managers of ports and vessels. Our global footprint within docking and mooring will also provide opportunities to expand the sales of the acquired company. The market prospects for marine systems are favourable, particularly as increasing vessel sizes and new requirements drive the need for a smarter approach to port and terminal efficiency”.

Alan Bristow, CEO at ICON Corporate Finance, who acted for Marimatech on the sale, added: “Marimatech’s software solution is unique and ahead of the market. The commercial and operational benefits of this solution are welcomed by all in an industry that has a constant focus on meeting exacting standards for safety, cost and accuracy in all its operations. It is no surprise that it attracted the attention of The Trelleborg Group.”

Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative engineered solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about SEK 22 billion in over 40 countries. The Group comprises five business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. In addition, Trelleborg owns 50 percent of TrelleborgVibracoustic, a global leader within antivibration solutions for light and heavy vehicles, with annual sales of approximately SEK 16 billion in about 20 countries. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.

This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.

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ICON advises Business Integrity on its sale to Thomson Reuters

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ICON advises Business Integrity on its sale to Thomson Reuters

02 Oct 2015

ICON advises Business Integrity on its sale to Thomson Reuters. Business Integrity is a leading provider of document assembly and contract creation tools for law firms and corporations.

Effective immediately, the company is part of the Legal business of Thomson Reuters. Financial terms of the transaction were not disclosed.

Business Integrity has strong proprietary technology and is well-established in the UK legal market as well as the US and other key jurisdictions around the world. Its primary product is a document and contract automation software solution called ContractExpress, which provides lawyers and end-users with a faster, more efficient way to draft documents while ensuring consistency and reducing risk.

Business Integrity’s leading solutions make an excellent strategic fit and a natural complement to the strong brands and content owned by Thomson Reuters, including Practical Law, Westlaw and its innovative legal software and services offerings.

“The acquisition of Business Integrity helps support our vision of a more efficient and connected legal ecosystem that incorporates powerful technologies and workflow solutions. It complements our existing core offerings and allows us to share new capabilities with our customers around the world,” said Jan-Coos Geesink, Managing Director for the UK & Ireland legal business at Thomson Reuters. “As such, this is an exciting acquisition and I’m delighted to welcome our new colleagues to Thomson Reuters.”

Brian Parker Head of M&A at ICON Corporate Finance who acted for Business Integrity on the sale, added: "It is an exciting business with leading edge document automation technology and fantastic global blue chip clients. We generated really good interest from a range of international buyers which led to a considerable amount of competitive tension. This provided the shareholders with a variety of buyers. Thomson Reuters was a great choice."

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ICON secures funding for FinTech50 company Merit Software

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ICON secures funding for FinTech50 company Merit Software

14 Sep 2015

Synova Capital has led a growth capital investment into Merit Software Holdings Limited, a leading provider of payable and receivable reconciliation and workflow solutions to global investment banks, brokers and clearing houses. Synova is partnering with Kerril and Paul Burke who will continue as CEO and CTO respectively. Synova is investing alongside FiveW Capital led by strategic US based investor Randall Winn, co-founder and former CEO of Capital IQ who joins the Company as a Director and Peter Little (previously CEO and Chairman of Cadis Software Limited and co-founder of Braid Systems) who joins the Business as Chairman.

Merit's clients include a number of the world's leading financial institutions. The demand for Merit's products has accelerated, driven by both regulatory demand and an internal drive for efficiencies within investment banks and other capital market participants. The growth capital investment will support the Company in developing new products, including SetClaim, recently launched in partnership with one of the world's largest clearing houses, Euroclear. SetClaim provides a central utility with automated matching of receivables and payables across a range of product sets. Euroclear has in excess of 2,000 client institutions located in more than 90 countries and settles over $634 trillion of securities transactions per annum, giving significant potential for growth.

Commenting on the transaction, Philip Shapiro, a Managing Partner at Synova and a Director of Merit, said: "Merit possesses multiple compelling opportunities for growth including Claim Manager, the recently launched SetClaim utility and new analytics offerings. Our plan will focus on investing in the Business to support the growing level of demand for the product both internationally and domestically. We are delighted to be supporting Kerril and Paul, in partnership with the operational experience and leadership of Randy and Peter and look forward to being a part of the next phase of Merit's development."

Kerril Burke, CEO of Merit, commented: "I am delighted to be partnering with Synova, FiveW Capital and Peter. We have built Merit through continually investing in our product and a focus on providing innovative and best in class solutions to our customers. With the launch of SetClaim alongside our strategic partner Euroclear and a continued focus on efficiency in capital markets, there are significant opportunities for growth ahead. With the expertise of Synova, Randy and Peter in supporting growth, we look forward to taking advantage of these opportunities and building Merit into the world leader in payables and receivables case management, matching and payment and settlement."

Randall Winn, Managing Member of FiveW Capital, commented: "Merit has built a series of great products, highly valued by its current users, which are currently primarily in the middle and back office of major financial institutions. After spending time with the team, it became clear that Merit's product and the data which it aggregates for customers can provide compelling business insights for front office users as well and we are looking forward to helping the Company introduce this new service to the marketplace. FiveW Capital is excited to partner with the Merit team, Synova and Peter to help grow the Business".

Eddie Harding, Investment Director at ICON Corporate Finance said “Merit has built an enviable leadership position in receivables and payables settlement for some of the world’s largest Investment Banks, and is now ideally positioned to drive future growth following the launch of its SetClaim utility in partnership with Euroclear. It’s been a pleasure to have acted for Kerril and Paul on this investment round, and we are delighted to have attracted such high calibre investors as Synova and FiveW Capital."

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ICON acts for FinTech50 company Parmenion on its exit to Aberdeen Asset Management

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ICON acts for FinTech50 company Parmenion on its exit to Aberdeen Asset Management

04 Sep 2015

Aberdeen Asset Management PLC (“Aberdeen” or “the Group”) has entered into an agreement to acquire Parmenion Capital Partners LLP and its sister company, Self Directed Holdings Limited (together “Parmenion”), based in Bristol. The acquisition is part of Aberdeen’s strategy to capitalise on advancements in financial technology systems and to become a leader in using technology to provide investors with portfolios appropriate to their needs, whilst also growing its Investment Solutions business.

Parmenion, a member of the Fintech50 2015, provides risk graded portfolios to UK financial advisers that they can utilise through a unique, yet simple, digital platform. The Parmenion platform has the highest rating based on a recent survey of advisors*. It has £1.9 billion assets under management and delivers services to more than 900 adviser firms.

Parmenion will retain its own identity and remain located in Bristol, but will receive additional investment from Aberdeen to develop and expand its service. Parmenion will also be able to draw on Aberdeen’s investment solutions expertise, including the ability to allocate to the Company’s quantitative investment strategies. Its multi-manager portfolios will continue to invest in funds of third-party asset managers.

The transaction provides key benefits to Aberdeen:

  • Accelerates its ambitions to provide digital innovation and services across distribution channels;
  • Supports the strategic aim of growing its Investment Solutions business, and
  • Further bolsters the Group’s already extensive distribution reach in the UK

Eddie Harding, Head of Fintech M&A at ICON Corporate Finance who advised the management on the sale said ”Parmenion’s Digital Discretionary Funds Management Platform is an excellent strategic acquisition for Aberdeen. As Wealth Management is increasingly performed online, major global fund houses need either to develop in house or buy in a digital platform. As a winner of the FinTech50 2015, Parmenion has clearly demonstrated the significant innovation and scalability of its unique DFM offering, and is now ideally positioned to continue its significant growth record as part of a leading FTSE 100 investment management group”.

Commenting on the transaction, Richard Mein, Chief Executive of Parmenion Capital Partners LLP, said:“Aberdeen’s strategic interest in Parmenion derives from their recognition that the business of investment management is moving online. Parmenion is at the very cutting edge in developing online capabilities for advisers and their clients, and the integrated investment, operational and technology services we have created in recent years, makes us an attractive partner for Aberdeen and the backing of one of Europe's largest fund management businesses will enable us to continue to develop our investment and technology solutions for our clients.”

Martin Gilbert, Chief Executive of Aberdeen Asset Management PLC, said:“Parmenion is perfectly placed to respond to the evolving pension environment and the growing demand for investment services that are accessible online. Since being established in 2007 it has provided financial advisers with a valuable service and their clients with investment solutions to meet their individual goals. With Aberdeen’s support and investment I believe Parmenion can build on its success to meet the changing needs of financial advisers as an increasing number of people turn to them for pre and post-retirement planning. This acquisition ensures Aberdeen is at the forefront of the digital revolution within asset management and augments our strategic aim to grow our Investment Solutions business.”

The acquisition is subject to regulatory approval from the UK Financial Conduct Authority.

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ICON secures funding for Big Data Analytics company, SynerScope, from Mangrove Capital Partners

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ICON secures funding for Big Data Analytics company, SynerScope, from Mangrove Capital Partners

16 Jul 2015

SynerScope, a pioneer developer of fast, sense-making Big Data Analytics technologies, announced today it has secured Series A funding from Mangrove Capital Partners, who join existing investors 5 Park Lane and Spitskool.

SynerScope is a leading provider of enterprise business analytics products focusing on big data and business intelligence for banks and insurance companies.

“The strong technology developments we’ve introduced to data driven analytics and decision support have been well received by our clients” states SynerScope’s CEO and Co-founder, Jan-Kees Buenen.

“We are already the preferred choice as a Big Data analytics platform for our insurance industry customers who require omni-channel decision support systems throughout their company. We are delighted that Mangrove understand our strategic position in markets where major players are looking to create a competitive edge based on a data driven business approach.”

SynerScope’s advanced computerized data imaging creates visualizations that bring more analytic power and flexibility. Ease of use of any data will drive new business models. SynerScope is also growing in the areas of Cyber Security, Energy, Utilities and Oil and Gas under a new header Critical Infrastructure.

David Waroquier, Partner at Mangrove Capital Partners commented: “SynerScope has assembled an unparalleled engineering and top management team with a proven track record of bringing leading products to market. The company has already demonstrated cutting edge Big Data Analytics solutions that are fast developing into omni-channel decision support systems, which are attracting strong partners and large insurance companies and banks.”

The new funding will be used to develop a sales and marketing organization in Europe and the US, and develop delivery capabilities through partners SAP, DELL, Amazon, Bitbrains, Hortonworks and Frame.

ICON Corporate Finance, a London based corporate finance boutique focused on the high-tech sector, advised SynerScope through this round of financing. Baruk Pilo, SVP M&A who led the investment added: “This deal represents the third deal for ICON in as many weeks. With this investment for SynerScope and support of the Mangrove team, the Company will rapidly accelerate its development and become a Big Data leader with a unique set of capabilities for the Insurance, Banking and Cyber Security sectors.”

David Waroquier joined SynerScope’s Board of Directors, alongside Jan-Kees Buenen and Pieter Stolk.

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ICON advise media logistics software company Nativ on the sale to Ooyala

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Deal Release:

Nativ’s Mio platform puts Ooyala even further at the forefront of providing a true end-to-end platform that can serve all video business needs end to end, from production through to monetization

Jay Fulcher, President & CEO
Ooyala

30 Jun 2015

ICON advise Nativ on the sale to Ooyala, a leading video, analytics and advertising technology provider. Ooyala, based in Santa Clara, is an independent subsidiary of Australian telco giant, Telstra.

Nativ is a provider of cloud-based media logistics and workflow software and services. Its modular suite of media production, post-production, delivery and syndication workflow software, called MioEverywhere, redefines end-to-end media management for today’s data-driven, multiscreen world. It removes the cost and complexity of creating, managing and delivering content in the cloud.

Nativ is Ooyala’s second acquisition within the last nine months, following its purchase of Europe’s top video ad tech provider, Videoplaza, last October. It is the next step in Ooyala’s multi-phase strategy to deliver the most comprehensive, data-driven personalized TV and video platform that will power the next generation of television.

By adding Nativ’s media logistics platform, MioEverywhere, to its suite of personalized TV and video offerings, Ooyala’s technology stack now extends to video production, post-production, digital content services, broadcast planning and media management for both OTT and on-air content. This acquisition comes at a pivotal time for the industry, as the traditional systems for managing media workflow for on-air content delivery are undergoing major transformation, in the same way that media delivery and monetization solutions are transforming into more open, modular, cloud-based systems.

The Mio platform is used by some of the world’s top content owners and brands, including ITV, Audi, Vubiquity, Dolby and the Financial Times (FT). It is an extremely powerful platform that automates many business critical processes in content production and packaging, designed to manage content more intelligently and drive down costs at every stage of the TV supply chain. Ooyala plans to operate Nativ as a stand-alone new line of business under the Ooyala brand. Over time it will integrate Nativ’s technologies with its core video publishing, analytics and monetization platform.

Jay Fulcher, president and chief executive officer for Ooyala, said, “The new TV marketplace can’t be serviced by legacy broadcast business systems. New data-driven technologies and services will transform the way broadcasters, media companies and brands operate in the era of multi-screen consumption. A transformation of this scale represents massive opportunity for the innovators that can drive new, future-proofed standards. Nativ’s Mio platform puts Ooyala even further at the forefront of providing a true end-to-end platform that can serve all video business needs end to end, from production through to monetization.”

Charlotte Yarkoni, president of Telstra Software Group and vice chairman of the board for Ooyala, said, “Combining Nativ’s technology and team with Ooyala is a big step forward in executing our shared vision for a consolidated, global leader in personalized cloud TV and video. Nativ opens a lucrative new line of business for Ooyala. Following its acquisition of Videoplaza last October, it provides key media management and broadcast planning technologies that will extend the reach and power of its video, analytics and advertising offerings. Ooyala will stand out as a trusted provider who can meet the needs of broadcasters and media companies every step of the way.”

“For Nativ, becoming part of Ooyala enables us to catapult our business into a new phase of rapid growth, at global scale. We have a very strong shared vision for enabling the world’s broadcasters and media companies to more easily, and more profitably, adapt to the major shifts in TV industry technologies and business models,” said Jon Folland, chief executive officer of Nativ, who will remain part of the Ooyala executive team.“With the backing of Telstra and their commitment to making the ongoing investments to support a rapid pace of innovation, we are now best in class in both stand-alone media logistics software and comprehensive, data-driven cloud TV.”

The Mio platform includes a module for end-to-end management of multiscreen ad campaign workflows, and a sophisticated data management module that gives companies the ability to model, gather and manage data across their entire value chain, helping to expand audience reach and increase profits. This data management module is highly complementary to Ooyala’s own analytics engine that powers personalization and revenue optimization for users of its video platform.

Simon Moynagh, Investment Director at ICON, who acted for Nativ on the sale, added: "We are delighted to have advised the management team on their sale. This sought after acquisition extends Ooyala's reach into providing an end-to-end platform for all video business needs and allows Nativ to move into the next stage of rapid global deployment."

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ICON advises Strategy Digital on the sale to Fat Media

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Deal Release:

We have been really impressed with the team. Their enthusiasm and expertise will help us to further build our social and search capabilities within Fat Media

David Durnford, CEO
Fat Media

30 Jun 2015

ICON has advised Strategy Digital, social media specialists, on the sale to digital marketing agency, Fat Media.

Commenting on the deal John Courtney, CEO of Strategy Digital said: “I’m thrilled to be placing the business I have built up over the past two decades in the very capable and creative hands of Fat Media. Together the agencies will be a powerful force in the world of digital marketing.”

Simon Moynagh, Investment Director at ICON who acted for Strategy Digital on the exit added: "the sale of Strategy Digital continues to highlight ICON's success in selling digital companies and we are delighted for the team."

The acquisition marks an exciting time for Fat Media, says CEO David Durnford: “I'm delighted to welcome Strategy Digital into the Fat Media family. We have been really impressed with the team. Their enthusiasm and expertise will help us to further build our social and search capabilities within Fat Media, as well as providing the foundation for a full-service digital offering based in Bristol to complement our offices in Lancaster and London.”

Fat Media’s client list includes household brands such as Typhoo, OCS, Samsung, Jessops and JD Sports.

The company currently employs 93 people, in Lancaster and London, with the acquisition of Strategy Digital bringing its workforce of digital, marketing and technical specialists up to over 130 staff.

As part of the deal, Strategy Digital’s incumbent owner John Courtney will step down as executive chairman, while his wife Kath Dawson will remain in her directorial position.

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ICON advise RUMM on the sale to energy giant, RWE npower

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Deal Release:

This deal represents an important investment in both our energy solutions business and the thriving South Wales tech community. With the right support and incentives, we are confident that Welsh start-ups, like RUMM, will continue to grow

Paul Massara, CEO
RWE npower

13 Apr 2015

RWE npower has acquired the specialist energy management company RUMM in a move that could help British business save up to £4 billion on their annual energy bills. The Welsh tech firm, which was spun out of the University of Glamorgan, uses the latest innovations in cloud-based data analytics to help businesses monitor and control their energy in real time.

Since its inception RUMM has already saved over £43 million for its customers. npower Business Solutions, which is the second largest supplier of energy to British businesses, will roll out RUMM’s software to its biggest customers in Q2 2015, with the goal of delivering energy efficiency at scale.

With the UK’s industrial and commercial sectors spending £20 billion a year on electricity and gas, npower Business Solutions has shown that increasing energy efficiency by 20% could represent a collective saving of around £4 billion annually to British business.

Paul Massara, CEO of RWE npower, said: “npower Business Solutions is committed to helping the UK’s largest companies manage their energy needs so they can budget for the future. RUMM’s technology is truly innovative, giving businesses the tools they need to make significant savings on the bottom line.

“This deal represents an important investment in both our energy solutions business and the thriving South Wales tech community. With the right support and incentives, we are confident that Welsh start-ups, like RUMM, will continue to grow, exporting their expertise across the world.”

Dr Stephen Lloyd, Chairman and co-founder of RUMM, said: “Being part of RWE npower represents a huge opportunity for RUMM. npower Business Solutions wants to provide the best possible energy management for its customers and RUMM has the capability to help deliver this. We spoke to a number of energy suppliers, but the way the team at npower want to bring innovation to their customers proved decisive.”

Jamie Watkins, Co-founder and Director of Sales at RUMM, added: “This is a proud day for everyone at RUMM. We’ve continued to invest in the development of our “best in class” software, while waving the flag for Welsh entrepreneurship. We are excited at the prospect of working with npower Business Solutions to help some of the UK’s biggest companies cut energy, cost and carbon.”

Alan Bristow, who lead the transaction said, “This is an excellent transaction for both parties, with the energy management cloud technology of RUMM to be deployed at scale to npower’s industrial and commercial energy customers. A great fit of innovative tech with an energy giant.”

Commenting on ICON’s role Jamie Watkins said, “ Since we first met ICON in London they have been amazing in helping us package the business in the right way, go to market, turn the heads of all the big boys and then come away with RWE npower following through to acquire us. Thank you for helping secure a great deal for all our shareholders.”

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ICON has advised on the funding round for the rapidly growing online marketplace JewelStreet.

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Deal Release:

This funding provides us with the capital required to continue to grow this marketplace for engaging and selling to a wide audience

Rob Passmore, CEO
JewelStreet

16 Dec 2014

ICON has advised on the funding round for the rapidly growing online marketplace JewelStreet.

JewelStreet was co-founded by ex Saatchi & Saatchi internet marketer, Rob Passmore; industry renowned goldsmith, jewellery designer and retailer, Mike Taylor; and IT whizz Andy Jones, who has designed cutting-edge technology platforms for the likes of Walt Disney, Nomura and UBS.

Together they are revolutionising the £4.9 billion UK jewellery industry by curating a collection of the world’s best designers and brands on a trusted platform direct to the customer.

Brands and designers on JewelStreet benefit from a new channel to market, gaining exposure to a large, fast-growing audience as well as receiving a much fairer share of the end RRP compared to margins received through traditional retail channels.

JewelStreet has attracted over 250 brands and designers offering more than 12,000 pieces of jewellery. Customers benefit from the quality, choice, no-quibble-returns and lowest price guarantee of a trusted ecommerce site.

JewelStreet’s successful launch and subsequent growth in the UK market is the start of a much larger plan to roll-out the platform internationally and take existing brands and designers to new customers in new geographies as well as bringing quality overseas designers and brands to customers.

Commenting on the funding, co-founder and CEO Rob Passmore said, “We are seeing a radical change in the way jewellery is being bought. We can give customers access to the brands and designers not available anywhere else in one place, online or offline. This funding provides us with the capital required to continue to grow this marketplace for engaging and selling to a wide audience. We see ourselves as the Net-a-Porter and FarFetch for jewellery brands and designers."

The round was led by a family office and a syndicate of private investors from Guernsey.

For more information on JewelSteet head to www.JewelStreet.com

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ICON advise ISV software on its sale to Dillistone Group Plc

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ICON advise ISV software on its sale to Dillistone Group Plc

07 Oct 2014

Recruitment testing and online training specialist ISV Software has been sold to Dillistone Group Plc the UK listed parent of recruitment software suppliers Dillistone Systems, Voyager Software and FCP Internet.

ISV Software is the leading supplier of skills testing software and services to the UK recruitment industry. Used by 9 of the top 10 UK agencies by number of offices, ISV’s FastPath testing product allows agencies to validate the skills of potential candidates across a wide range of areas. It has developed over 200 tests, covering General Secretarial and Office Support, Administrative skills, Call Centre operators, Drivers, IT and Technology, Foreign language speakers and Accountancy. Over 600,000 tests were taken with its software last year.

Dillistone Group Plc is a leading global provider of software and services that enable recruitment firms and in-house recruiters to better manage their selection process and address the training needs of individuals. ISV Software is a natural extension of Dillistone Group, which serves over 2,000 clients in more than 60 countries.

Laurie Dobson, departing CEO and former majority owner of ISV Software, said: “Over the years, I have received a number of approaches from potential buyers, and deciding to sell ISV was not a decision I took lightly. I am delighted the company has been acquired by Dillistone Group. We have similar values, and the plan is to invest in and continue to grow ISV. I am leaving behind a strong management team, a great workforce and excellent client relationships, so the future is in good hands.”

Managing Director of ISV Amanda Davies added: “This is a very exciting time for ISV Software. The company and brand are already well-established and respected in the recruitment industry, and we’re now joining forces with one of the largest suppliers to the global recruitment sector. The acquisition creates fantastic opportunities for product development, our business growth and our team.”

”We are delighted to be welcoming the ISV Team to our Group. They bring a terrific product, a great team and an impressive portfolio of clients, and we believe that they will go from strength to strength with the added resources that our Group can offer them,” commented Jason Starr, Group Chief Executive of Dillistone Group Plc.

ISV will continue to operate as a separate business, supplying online testing and training to recruitment, HR and talent teams globally.

ICON Corporate Finance advised the shareholders of ISV Software on the exit. Brian Parker Head of M&A at ICON commented “Acquirers were attracted by the SaaS type revenue stream that ISV has with over 70% of its revenue being recurrent. We targeted UK and overseas acquirers that would have the bandwidth of client relationships to accelerate its growth. Dillistone were an ideal acquirer with exceptional industry contacts and offered an attractive deal for ISV shareholders at a potential valuation of over 3x revenue”.

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ICON secures funding for stock tips aggregator site Stockomendation

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ICON secures funding for stock tips aggregator site Stockomendation

30 Jul 2014

ICON has advised on the funding round for the rapidly growing financial analysis and digital media company Stockomendation.

Stockomendation is a ‘super’ search engine, aggregator and comparison site for stock tips and recommendations in the UK stock market. It gathers and tracks stock tips made by the UK’s leading tipsters, newspapers, magazines and websites and in almost real time displays the performance of the tip and the tipster, whilst also offering a free UK stock market company search and data service powered by a partnership with Thomson Reuters.

Commenting on the funding, founder and CEO Paul Roberts said: “Stockomendation has the potential to change the nature of accountability and transparency in the stock market for private investors and grow the execution base and volumes for brokers and trading platforms. The website currently displays stock tips from over 140 UK financial journalists, share prices, market information, tracking tools and much more is built into its platform. It is the ‘go-to’ website for anyone investing in the stock market and for tipsters and researchers wanting to connect with private investors.

Paul who has a track record of success with early stage internet and technology businesses having sold his cloud based business Clunk Click to the Risc Group in France in 2008, is joined by non executive Chairman, Nick Ogden. Mr Ogden has consistently been at the forefront of Internet innovation since 1985 having created the world’s first online store and then founded and was CEO of the multi-billion pound currency processor WorldPay. Over the last few years Nick Ogden has developed Voice Pay, a system of voice and other biometric payment authentication which is being rolled out to banks globally. Having raised over £100 million of investment capital for his projects over the years, his achievements are numerous and it’s this ability to innovate and develop that he brings to support Stockomendation.

Commenting on the deal, Nick added: “In Stockomendation, Paul Roberts has created an exciting company with global potential. Big data and the Internet are finally levelling the playing field for the private investor and Stockomendations platform could be transformational for private investors. I look forward to working with Paul and the team to develop further applications and partners for Stockomendation and make this a truly global business.”

The round was led by Angel investors well-known in the software and finance industry, and the funding will be used to support Stockomendations rapid growth and help build out its sales and marketing presence in the UK and US markets.

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ICON advises SaaS software provider, ProjectManager.com on $3.5 Million Funding Round

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Deal Release:

ICON advises SaaS software provider, ProjectManager.com on $3.5 Million Funding Round

21 Jul 2014

ICON has advised the management team of rapidly growing SaaS-based Project Management (PM) software company ProjectManager.com on raising $3.5 million in new funding to help fuel the growth of the business in the United States.

The round was led by Zeus Management Limited, a New Zealand-based group of investors well-known in the software industry, and the funding will be used to support ProjectManager.com's rapid growth and help build out its sales and marketing presence in the US, where 80 percent of its user base resides.

ProjectManager.com’s PM software comes with social, video, mobile, and content tools already built into its platform allowing users to collaborate while managing, tracking, and organizing projects.

The company’s customers include companies and organizations like NASA, Volvo, Kantar and the United Nations, with more than 15,000 users worldwide, 150,000 subscribers to its mobile app and over 500,000 active members in its social network community.

“The next step in our journey is to establish a US sales and marketing operation, to better support our customers,” stated Jason Westland, ProjectManager.com CEO. “Our US customers want local assistance when training, rolling out, and migrating new users onto our platform. This funding round will help us achieve that goal.”

Eddie Harding of ICON Corporate Finance who advised management on the deal said “ProjectManager.com has a unique product with an unrivalled social network community and this funding will enable it to capitalise on the significant market potential for its offering in the US”.

In addition to the new funding, ProjectManager.com has also established a top-notch executive board of directors to lead the charge in the US. Guy Haddleton, co-founder of Anaplan; Herb Hunt, former IBM executive and director of the Wynyard Group; and Graham Shaw, director of Xero, bring their experience and drive to the table to help ProjectManager.com grow. The three new Directors will extend the company’s business strategy to focus on the enterprise market and help the company further scale its fast-growing user base, as well as exposing the company to their extensive network of contacts and partnerships.

"We are excited by the opportunity ProjectManager.com has in the U.S. marketplace,” said Andrew Clements, director at Zeus Management Ltd. “With a fast revenue growth rate, a proven platform and an impressive customer base, it's destined for greatness."

ProjectManager.com started operations in 2008 and is headquartered in New Zealand with offices in the Silicon Valley.

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ICON advises Calyos on 4.5m euros funding

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We are delighted to secure this investment which enables us to continue the commercial deployment of our Cooling Solutions whose combination of very high performance and energy efficiency is unique on the market

Olivier de Laet, CEO
Calyos

28 Apr 2014

ICON advises Calyos, the leading provider of advanced two-phase cooling solutions, on its €4.5m of capital funding to further commercialize its breakthrough platform cooling solutions for Power Electronics applications and High Performance Computing (HPC) Data Centers.

The fundraising is led by new investors committed to backing high growth technology ventures and are joined on the round by existing shareholders.

The new investment enables Calyos to focus its efforts on setting up its sales and industrial organisation, expanding beyond its first partnerships into new geographies as well as enlarging its Platform Product ecosystem.

Based upon a breakthrough energy-free capillary pump, Calyos Cooling Solutions use a high performance 2-phase technology which is noise and maintenance free. It provides an efficient answer to the power densities, operating expenses as well as life time issues experienced in Power Electronics applications and High Performance Computing Data Centres.

After installing its first commercial demonstrator on an Alstom Metro trainset in Paris in early 2013, Calyos has begun in 2014 the commercial deployment of its Cooling Solutions in power conversion applications for railways, wind turbines, power transmission and industrial drives. The company is also working with a global HPC Data Center manufacturer and expect its first commercialisation in 2015. These represent significant market opportunities for Calyos with the addressable market estimated to be worth c$5 billion and with the Calyos technology having being validated by major global technology partners the Company is suitably positioned to secure a significant market share over the next 5 years.

Olivier de Laet, CEO of Calyos commented “We are delighted to secure this investment which enables us to continue the commercial deployment of our Cooling Solutions whose combination of very high performance and energy efficiency is unique on the market..”

Alan Bristow, CEO of ICON who acted for Calyos on this funding round commented, “Calyos has achieved a technological breakthrough in cooling solutions which not only provides a step-change in efficiency for existing commercial applications but also opens the door to exciting higher power electronic applications where component over-heating has, up until now, been the limiting factor in their development. ICON looks forward to continuing to work with the company to ensure the capital base supports the commercial opportunities the business is executing on.”

About Calyos

Calyos is a provider of advanced Two-phase Cooling Solutions for electronics components. Based upon a passive capillary pump, Calyos' High Efficiency Platform Solutions significantly reduce the total cost of ownership (TCO) of its final users by enabling cleaner, more reliable, more powerful and energy efficient customer electronics applications. They offer significant improvements over existing cooling solutions.

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ICON advise Madrid-based Dialcom Networks on the sale of Spontania to Salt Lake City’s ClearOne Inc

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ICON advise Madrid-based Dialcom Networks on the sale of Spontania to Salt Lake City’s ClearOne Inc

23 Apr 2014

ICON advise Madrid-based Dialcom Networks, S.L on the sale of Spontania, their software-based cloud video collaboration solution, to Salt Lake City’s ClearOne Inc.

Spontania complements ClearOne's existing premise-based, enterprise video collaboration portfolio and makes ClearOne the only company offering an entirely software-based video conferencing product line from the personal client to the conference room, with a complete set of virtualized infrastructure. The complete ClearOne video portfolio now can serve a full range of video collaboration needs for Enterprise, SMB, Healthcare, Education, and other customers, whether they are seeking those solutions deployed in their private data centers or in the ClearOne Spontania cloud.

"We are now positioned to execute on our strategy by offering a complete and competitive suite of video collaboration products that appeals to varied customer needs and uniquely leads the way for our partners to take advantage of cloud offerings and capture down-stream revenue opportunities" said Zee Hakimoglu, Chairman and CEO of ClearOne.

“Spontania’s acquisition by ClearOne will benefit and provide new opportunities for our partners, customers and other stakeholders” said Enrique Dominguez, President and CEO of Dialcom Networks.

Baruk Pilo, SVP M&A at ICON Corporate Finance, who led the deal added: "In an Industry transitioning from ‘in-premise’ to Video as a Service, Spontania will be instrumental to ClearOne’s future successes with a great team built by Dialcom founders Enrique Dominguez and Marcelo Martinez”.

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ICON secures a £5m investment from Calculus for back office optimisation specialist AOMi

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ICON secures a £5m investment from Calculus for back office optimisation specialist AOMi

18 Mar 2014

ICON secures a £5m investment for back office optimisation specialist AOMi.

AOMi offers solutions backed by its leading cloud based Workware software suite, providing an enterprise ready solution for its 40,000 customers globally. Key clients: Barclays, Capita, Xchanging, Genpact, IFDS, ANZ, Westpac, National Australian Bank, New Zealand Inland Revenue, ABSA, Nedbank, Kotak, Mahindra Bank, TD Bank, Fifth Third Bank, TD Canada Trust and Banque National Du Canada.

The investment from Calculus means AOMi will be able to scale the business and further expand its growing international operations, particularly in North America, AsiaPac and South Africa.

Richard Jeffery, Founder and managing director of AOMi commenting on the deal said: "The investment will allow us to capitalise on the extensive global demand we are seeing for our cloud based software. Since 2005 we have grown our business through self-funding, but there has been an acceleration of interest for our products across the globe and we now need to grow the business rapidly to meet that demand”.

Alan Bristow, CEO of ICON who led the investment added: “With this investment from Calculus the business is now in a position to rapidly accelerate its development and has the cloud software products and team to become a world leader in back office work optimisation – a very exciting time ahead for the Company”.

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ICON advises Coactiva on its sale to Callcredit Inc

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The acquisition of Coactiva further demonstrates our continued commitment and enthusiasm to developing our Public Sector business

Peter Mansfield
Managing Director, Callcredit

10 Feb 2014

Callcredit Information Group has today announced the acquisition of software solutions and consultancy provider, Coactiva. The acquisition further extends the range of innovative products and services offered by Callcredit to the public sector. It is a clear statement of Callcredit’s intent to further support public sector organisations with innovative solutions.

Established in 2001, with offices in London and Wales, Coactiva is a pioneer in bringing sophisticated, innovative ‘Big Data’ Analytics & Business Intelligence solutions into everyday use within many public sector organisations. With the market leading Intercept RBV solution Coactiva enables organisations to reduce costs, increase revenue and improve service through the use of risk-based analytics. Coactiva also provides the market leading Aspireview performance management software to over 23,000 users across the UK, which includes 1800 educational establishments, 130 local authorities and organisations within social housing, the emergency services, health and leisure.

Peter Mansfield, Managing Director at Callcredit said “The acquisition of Coactiva further demonstrates our continued commitment and enthusiasm to developing our Public Sector business. We have enjoyed significant success and growth since its inception three years ago and this acquisition reflects our ambition for this sector. The addition of Coactiva’s cloud-based performance management software and risk based tools will add expertise, depth and a further dimension to the range of products and services we are able to offer new and existing clients in both the public and private sector. We are committed to continuing to invest in the success of the combined Callcredit & Coactiva business”.

Ray Fielding, Chief Executive Officer at Coactiva commented, “This is an exciting new chapter in the development of our vision to bring true innovation and value to the public sector. Coactiva has grown rapidly in recent years, and this step will give us access to new markets as well as a unique capability to create a new class of solutions which combine Callcredit’s information and analytics expertise with our software and sector expertise. In Callcredit we immediately recognised an organisation with a similar culture to ourselves, an ambitious UK company with a real commitment to customers, to staff, to quality and to making a difference”.

Brian Parker Head of M&A at ICON said "We had strong interest from prospective acquirers for Coactiva, not only is it in the fast growing Big Data analytics space but also has a high quality SaaS business model. As a result we not only got an excellent price but a progressive buyer from a complementary sector that fitted the strategic needs of our client."

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ICON secures funding for Abacus e-Media from BGF

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Deal Release:

BGF’s investment will help us to extend our client base much more quickly than we could otherwise have hoped to do. It will also enable us to move more swiftly into other subscription-based markets

Steve Feigen, CEO
Abacus

03 Dec 2013

Abacus e-Media is one of the UK’s leading providers of content management systems (CMS) and audience development platforms for the media, publishing and public sectors.

The global web content management market is approximately $1bn in size and is projected to grow at c.14% from 2009 to 2014, twice as fast as the overall enterprise software market according to research specialists Gartner.

Customers include some of the most influential companies in the media sector with key clients including Centaur Media, Thomson Reuters, UBM, EMAP, Christie’s, Condé Nast and The Law Society.

BGF, which has invested £2.3m of growth equity into Abacus, is an independent fund with capital of up to £2.5 billion, backed by five of the UK’s main banking groups - Barclays, HSBC, Lloyds, RBS, and Standard Chartered.

Steve Feigen, CEO of Abacus, said: “BGF’s investment will help us to drive the development of our ADvance and Webvision platforms and to extend our client base much more quickly than we could otherwise have hoped to do. It will also enable us to move more swiftly into other subscription-based markets, the recent adoption of ADvance by Christie’s having provided a clear illustration of strong demand from the wider marketplace.”

Simon Moynagh, Investment Director at ICON, added: “We are extremely pleased to have worked with one of the leaders in enterprise software for the media industry to secure such a high-calibre investor. The investment will allow the company to focus on growing its recurring income streams as it transitions further to a SaaS business model.”

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ICON advises Aria Networks to secure $4m fundraising from Seraphim Capital and the Capital For Enterprise Fund

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ICON advises Aria Networks to secure $4m fundraising from Seraphim Capital and the Capital For Enterprise Fund

05 Nov 2013

Aria Networks, a leading independent provider of capacity management software for telecoms and cloud services providers, has received $4m of investment funding in a round led by Seraphim Capital supported by the Capital For Enterprise Fund. Aria Networks will use the investment to further accelerate the growth of its customer base and to capitalize on the strategic industry partnerships it has secured in the past year, which are rapidly opening access to new markets.

Aria Networks’ Capacity Management platform combines resource and financial management to enable telecoms and cloud solutions providers to enhance their profitability. Recent consolidation in the market for capacity management solutions means that Aria Networks’ independence, along with its unique solutions for IP-Optical, 4G Mobile and Software-Defined-Networks (SDN), are driving new growth opportunities around the world. The company says that these changing market dynamics have resulted in new partnerships with global equipment manufacturers and software-vendors, which are now actively taking Aria Networks’ solutions to their existing telecoms and cloud solutions customers.

In June 2012, Aria Networks announced that Stephen Newton, an experienced and successful non-executive director and seed investor, had been appointed to the company’s Board of Directors. Seasoned high-tech investor Newton has invested in a number of technology companies and was part of a management team that steered Geneva Technology, a developer of billing software, from launch to acquisition for $700m. “We are delighted to be supporting Aria Networks and working with the team to capitalise on the growth in capacity management and the emerging opportunities driven by Software Defined Networking”, said Mark Boggett, Managing Director of Seraphim Capital. “We are also excited about Steve Newton taking an executive role in the business as he brings a wealth of experience in growing software businesses.”

Tony Fallows, CEO Aria Networks, added, “Aria Networks’ customers are typically gaining a return on investment and double-digit CapEx and OpEx business performance improvements in as little as six months by leveraging the Aria Networks platform. This latest investment funding will help us support our partners, win more business around the world, and help our customers improve their operational and financial performance.”

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ICON advises Hydra Management on its sale to eTask Technologies

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Deal Release:

Hydra’s proven track record in delivering value to its customers, together with eTask’s innovative technology and international distribution network offer a perfect strategic combination for growth

Shakeel Ahmed, Chairman
eTask Technologies

03 Sep 2013

ICON has advised Hydra Management on its sale to Latin American based eTask Technologies.

Hydra provides portfolio project management software for the financial services, technology and public sector industries. The company has more than 50,000 users and over 100 blue chip customers including Willis, Virgin Money, Experian and Leeds County Council. The Hydra product provides the tools required to plan, manage and monitor all the resources across complex programmes and portfolios. Customers adopting Hydra's technology typically see a return on their investment within six months.

Hydra was acquired 5 years ago by Clinical Computing Plc who turned it from a loss making business to a profitable company generating substantial recurring revenues.

Commenting on the deal MD, Sanjay Gandhi, who led the business from acquisition through to exit, said: “Having turned the business into a profitable entity, grown the customer base and significantly enhanced the technology this deal not only marks a substantial shareholder return but also a new chapter for Hydra as eTask provides us with a perfect reach into new geographical markets.”

Simon Moynagh, Investment Director at ICON, who led the deal added: "eTask is a good strategic fit for Hydra. The Hydra solution is tried and tested in its UK domestic market and this transaction gives the opportunity to scale it across other regions particular into the emerging markets of South America where eTask has considerable expertise.”

eTask Technologies is the international project management software company behind eTask-it the online Project Automation platform. With operations in UK and Latin America and customers in more than 7 countries across three continents, eTask Technologies is one of the innovation leaders in the PPM, Project Management space.

Shakeel Ahmed, Chairman of eTask Technologies said: “The acquisition of Hydra Management is a significant step in the growth of eTask Technologies towards playing a leading role in the PPM software sector. Hydra’s proven track record in delivering value to its customers, together with eTask’s innovative technology and international distribution network offer a perfect strategic combination for growth.”

Commenting on ICON’s role as lead adviser Sanjay Gandhi, MD of Hydra, said: “If you are looking for deep sector knowledge of the global buyers then ICON will ensure that you will achieve the best possible result. ICON demonstrated this as they secured a Latin American based-buyer that was a perfect strategic fit and provides Hydra with a platform to expand into emerging markets.”

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ICON advises theHealthcounter.com on its latest investment from existing investors Day Lewis and the Clark Group

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Deal Release:

We are delighted with the success of the Healthcounter so far and it vindicates our initial view that going online with a trusted brand allows us to provide a wider-offering of complementary goods and services to the market

Kirit Patel MBE, Founder
Day Lewis

14 Mar 2013

ICON advises theHealthcounter.com on its latest investment from existing investors Day Lewis and the Clark Group.

The Healthcounter is rapidly becoming the provider of choice for online health, wellbeing and complementary products in the UK and is now starting to expand into Europe.

The business is aggressively targeting the health & beauty and prescription market which together are worth £18.5 billion in the UK and £833 billion worldwide.

For the six-month period since August 2012 the company has delivered a ten-fold increase in sales and is on track to deliver a further four-fold increase over the next seven months.

The Healthcounter was initially formed as a joint venture between Ceuta and Day Lewis before demerging to become a separate standalone business when the Clark Group first invested in 2011/2012.

Investors in the Healthcounter’s latest funding round were the Day Lewis Group and the Clark Group.

The Day Lewis Group was founded over three decades ago and has grown from two pharmacies to around 200 making it the largest independent pharmacy chain in Europe.

The Clark Group is a family office with interests in retail, manufacturing and real-estate.

Simon Tucker, CEO of the Healthcounter, who joined the company in July, said: “The growth we’ve achieved so far in the UK is only the start of a much larger international plan. Demonstrating the model in the domestic market was a critical step as the UK is one of the most respected and regulated markets and therefore provides the necessary platform to roll-out internationally.

“As we continue to attract new and existing customers the website acts as a vital portal to build out additional complementary goods and services enhancing the proposition even further.”

Kirit Patel MBE, Founder of Day Lewis said: “We are delighted with the success of the Healthcounter so far and it vindicates our initial view that going online with a trusted brand allows us to provide a wider-offering of complementary goods and services to the market and reach other countries with other languages. The Healthcounter is the perfect platform to meet the growing demand for online prescription delivery by harnessing Day Lewis’ proven dispensing expertise.”

Alan Bristow, CEO of ICON who acted for Healthcounter commented: “The Healthcounter is more than just an online success story – it is fulfilling a much needed void in the market to become a trusted brand that consumers can rely on for their product and service requirements that sit around the health and wellbeing needs of a family. We look forward to carrying on working with the company to ensure their capital structure supports the ambitions of the board as it continues to grow its UK presence and expands further into Europe and elsewhere.”

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ICON secures funds for Crave Maternity from Echelon Partners

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We believe that this is a fantastic brand, offering high quality and value for money, in an under-developed section of the retail market, and led by an outstanding team

Nick Lovering, Managing Partner
Echelon Partners

06 Dec 2012

Crave, the UK’s leading maternity clothes designer and retailer, is delighted to announce that Echelon Partners, the investment vehicle of John Lovering and his family, has agreed to provide additional capital and expertise to the fast-growing pregnancy business. Echelon is an active, long-term strategic investor in growing businesses that operate in the consumer sector. Alongside the investment, Crave will also benefit from Mr Lovering's extensive network of connections in the retail industry, both within the UK and internationally.

John Lovering is highly experienced and respected in the retail and leisure sectors, having chaired Debenhams, Homebase, Somerfield, Fired Earth, Odeon Cinemas, Fitness First, Mitchells and Butlers PLC and Laurel Pub Company over the past 25 years. He is currently Chairman of Maplin Electronics, GHD Group, and the Retail Trust.

Nick Lovering, Managing Partner of Echelon Partners, who is joining the Board of Crave, said: "We are delighted to have completed this investment in Crave. We believe that this is a fantastic brand, offering high quality and value for money, in an under-developed section of the retail market, and led by an outstanding team. We are hopeful that our funding and experience will complement the skills of the management team, and provide a foundation for an accelerated growth for the business."

Helen Worsley, MD of Crave, said: “We are thrilled that Echelon Partners has come on board to support our growth agenda and apply their unrivalled experience to Crave more generally. Their industry passion and enthusiasm for the brand came through from the start and we look forward to maximising this fantastic opportunity.”

Crave is renowned for combining luxury, style and the latest catwalk trends, to create an on-trend wardrobe for mums to-be. It is also a firm favourite amongst celebrities!

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ICON advises Fabric Technologies on its sale to ASW

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Deal Release:

Fabric's market-leading offerings will help drive further cross-selling of managed services into the ASW's 7,000 strong customer base

Vin Murria, Chief Executive
ASW

06 Sep 2012

1st May 2012 - Advanced Computer Software Group plc (AIM: "ASW", "Advanced", or "the Group"), a leading provider of healthcare and business management software and services, has acquired the entire issued share capital of London based managed services provider Fabric Technologies Limited ("Fabric" or "the Company") for a total cash consideration of £4.6m, which includes a performance related earn-out of up to £0.4m payable in October 2012.

Fabric, which provides managed services and unified communication solutions to approximately 160 UK mid-market customers in banking and other professional services sectors, will be integrated over the coming months into the Group's Advanced 365 Managed Services division based in City Road, London. Fabric has 95 employees, mainly London based.

Vin Murria, Chief Executive, commented:

"This earnings-enhancing acquisition forms part of the Group's strategy to identify and acquire high quality complementary businesses to strengthen its 365 Managed Services division.

"Fabric's market-leading offerings will help drive further cross-selling of managed services into the Group's 7,000 strong customer base.

"We continue to seek suitable acquisition targets for our Health & Care and Business Solutions divisions."

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ICON advises my-Channels on its sale to Software AG

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Deal Release:

I am very confident that this acquisition, and the technology integration that will follow, will make sense to both my-Channels and Software AG customers

Paul Brant, CEO
my-Channels

06 Aug 2012

ICON Corporate Finance has advised my-Channels on its sale to Software AG (Frankfurt TecDAX: SOW).

my-Channels provides extremely fast (low latency) messaging software which will enable Software AG’s customers to integrate their enterprise applications, cloud based applications, and mobile devices through a unique, universal messaging layer. Customers will now have the ability to stream large volumes of critical data to employees, customers and partners anywhere, over any channel to any device.

This is a major step in implementing Software AG’s strategy for the in-memory management of Big Data. “This acquisition, as an integral part of our portfolio strategy, will give our customers a huge competitive advantage. An advantage in terms of the performance of their internal enterprise communications today and in the flexibility and scalability provided in adopting new information delivery channels, as they emerge, to external customers”, said Software AG CTO, Dr. Wolfram Jost. “This technology will play a fundamental role in customers successfully and cost effectively implementing their own Cloud, In-memory, Big Data or Mobile application strategies.”

my-Channels was founded in 1999 and has its headquarters in London. Nirvana, my-Channels’ message oriented middleware technology, guarantees delivery of real-time data between multiple platforms and to enterprise, Internet, Cloud and mobile users. It is used primarily in the financial sector as an enterprise class, low latency platform that streams real time data to customers and partners. It is currently in use by banks that account for 40% of the global FX market volume and provides streaming for four of the top eight FX e-platforms by market share. It is being increasingly adopted by a wide range of businesses, from e-Commerce to the public sector, that need flexibility, scalability and real-time data delivery across a growing number of channels, application frameworks and devices.

"From the outset of our conversations with Software AG it was very clear that the incorporation of my-Channels Nirvana into Software AG's existing product suite made complete sense", says my-Channels CEO, Paul Brant. "I am very confident that this acquisition, and the technology integration that will follow, will also make sense to both my-Channels and Software AG customers. The combination of the two product portfolios will open many new application areas that will be of great interest to our customers."

Eddie Harding of ICON Corporate Finance who advised my-Channel’s management on the sale said “There is a very strong strategic fit to this acquisition. Nirvana has been widely accepted as the fastest solution for real time streaming of data across Enterprise, Web and Mobile clients within the Financial Services sector, and this transaction gives the opportunity to scale it across a wide range of other verticals throughout Software AG’s global customer base.” Software AG plans to certify interoperability of my-Channels Nirvana with the webMethods suite to coincide with the release of Nirvana 7 in Q2 2012. The first integrated release is targeted for Q4 2012, which will give customers a choice of messaging options within their webMethods integration platform implementations.

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ICON advises election software and managed services provider Opt2Vote on its sale to Idox Plc

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Deal Release:

Idox is one of the market leaders in election management services and the acquisition of Opt2Vote will strengthen their position in this sector as the market for managed election services expands and new technologies are adopted

Alan Bristow
ICON

OPT2 VOTE 1

04 Jul 2012

ICON Corporate Finance advises election software and managed services provider Opt2Vote on its sale to Idox Plc

ICON Corporate Finance is delighted to announce the sale of Opt2Vote. Opt2Vote provides outstanding expertise and knowledge across all areas of election management and specialises in the provision of managed services solutions and market leading innovation in areas such as e-Counting and Early Voting. Opt2Vote supplies electronic vote counting solutions to 32 Scottish local authorities as well as managed print services to a large number of UK councils.

This new acquisition by Idox complements their acquisition of Strand Electoral Software in 2010 and by combining the strength of the Strand software solutions with the Opt2Vote product and services, Idox will be able to deliver a seamless and comprehensive range of leading democratic solutions and managed services to its customers.

As a combined business more than a third of the council elections across the UK and elections for the Mayor of London and London Assembly, taking place in May 2012, will be supported by the Idox group. The government’s localism agenda will see increases in the number of local elections and changes in the way that elections are managed. Both Opt2Vote and Strand will be supporting new mayoral elections and the police and criminal commissioner elections in May and November of this year. This leaves Idox well placed in the democracy market at a time when the number of local elections continues to increase as part of the government’s plan to increase local decision making.

Richard Kellett-Clarke, CEO of Idox, commenting on the acquisition said: "This acquisition of Opt2Vote further cements our strategy to deliver a broad range of electoral software solutions and managed services at a key time for local authorities. We already understand the efficiency gains able to be delivered by Opt2Vote’s managed print services and the successful outcomes of the Scottish e-counting pilots which will be used live in the forthcoming local elections. As plans for increased local democracy are implemented, councils will need to consider how associated costs are able to be controlled and have access to tried and tested software solutions that offer efficient management with minimal risk.”

ICON Corporate Finance, led by Alan Bristow acted as advisers to Opt2Vote and ran a competitive sale process with Idox Plc being selected as the preferred buyer.

Alan Bristow added: “Idox is one of the market leaders in election management services and the acquisition of Opt2Vote will strengthen their position in this sector as the market for managed election services expands and new technologies are adopted. Opt2Vote is a recognised innovator in the market and the combination with Idox provides a very exciting future for this Northern Ireland based business.”

Further Reading

ICON Client Secures £5.2m Contract with Logica

Derry-based election services provider OPT2VOTE Ltd. has won a multi-million pound contract to provide electronic vote-counting services in local government elections in Scotland. The company won the £5.2m contract in a partnership led by Logica, one of the UK’s largest technology companies. OPT2VOTE’s software will be used to prepare ballot papers for printing and to enable the electronic counting of completed ballot papers while Logica will provide implementation and support services before and during elections. The contract covers the local government elections scheduled in all 32 Scottish Councils for May 2012 as well as subsequent by-elections in local authorities until 2015.

Scotland’s Minister for Enterprise, Energy and Tourism Jim Mather said: “Since the problems encountered in the 2007 elections, this Government has taken a series of measures and introduced reforms to ensure there is no repeat. The introduction of the new e-counting system is a major step in that process. Come the election, it will offer greater transparency through better displays of information as the count progresses. The system will have been subjected to rigorous testing to protect against the failures of the past. We have worked closely with our partners in local government to ensure that an effective and transparent e-counting system is in place that meets all expectations”.

“We are delighted to have secured such a high-profile contract”, said Ann Marie Slavin, Managing Director of OPT2VOTE. “The win confirms our position as one of the premier providers of election services in the UK. We are particularly pleased to have won the contract in collaboration with Logica, a long-standing and valued partner with huge expertise in the UK public sector.”

Phil Gooch, Director, Public Sector at Logica added:“Scotland is leading the way ineCounting and we are proud to have been chosen to help deliver this cutting edge technology for the 2012 local government elections. We have a truly dedicated team of experts with extensive experience in working with the Scottish Government and the Scottish Parliament. This gives us a unique knowledge and understanding to help us deliver this innovative system. We are confident we can deliver for Scotland.

”The Scottish Government uses the single transferrable vote (STV) system for local government elections in Scotland. Due to the complex calculations involved in the STV system used in Scottish local government elections (the Weighted Inclusive Gregory system), electronic counting is required to deliver an accurate result within a satisfactory timeframe. A manual count would take approximately two to three days. OPT2VOTE and Logica were selected as the preferred suppliers of the electronic counting services after a rigorous competitive tender.

About OPT2VOTE

OPT2VOTE is one of the premier election service providers in the UK, providing outstanding knowledge and experience across all areas of election management. Founded in 2002, the company has pioneered the introduction of technology and automation in the election process and is a leader in e-voting (the use of the internet, telephone and SMS for elections), electronic vote counting and postal vote management and verification.

The OPT2VOTE electronic counting system accelerates the speed of election counts, improves the accuracy of results by reducing manual errors, and reduces the amount of manual effort involved. The OPT2VOTE system supports a number of voting methods including Single Transferrable Vote (STV) and has been used in legally binding elections in the UK since 2007, as well as Scottish Health Board elections in 2010. The count algorithm has been independently certified by the Laboratory of Software Quality (Eindhoven University of Technology/Radboud University Nilmegen), to ensure its accuracy, integrity and compliance with the formula for the calculation of these election results.

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ICON advises Atlantic Global on its sale to KeyedIn Solutions

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Deal Release:

Bringing together our world-class products with the international sales and marketing experience of the KeyedIn team made this a compelling proposition for our employees, customers and shareholders

Eugene Blaine, CEO
Atlantic Global

04 Jun 2012

ICON advises AIM listed SaaS business, Atlantic Global Plc, on its sale to US based KeyedIn Solutions.

Atlantic Global has developed world-class, cloud-based, SaaS solutions that help businesses plan, resource and manage complex projects and enterprise transformation programmes. The company’s customers include: Pfizer, GlaxoSmithKline, Kingston Communications and Serco.

KeyedIn Solutions is a US-based SaaS company founded by IT entrepreneurs George and Lauri Klaus, who were part of the executive leadership team at Epicor. Epicor was sold last year for nearly $1billion. KeyedIn Solutions helps companies maximise their assets to streamline workflow, increase efficiency and save money with full-featured, easy-to-use, centrally hosted online applications for enterprise resource planning.

Commenting on the acquisition, KeyedIn Solutions, CEO, Lauri Klaus said: “This is KeyedIn’s first Plc purchase. In terms of the complementary skills of both organisations, the stage that the company had reached in the business cycle, their products and customers, it's a perfect fit for us."

James Waterhouse, Managing Director of KeyedIn Solutions (UK) said: "The Atlantic Global product suite provides an essential set of tools for any business running high capital or business critical projects. Together with our consulting offer, we now provide a complete risk management and compliance solution that will transform the way our customers deliver successful business change."

Commenting on how this fits into the overall product strategy, Waterhouse added: "KeyedIn products bring a new flexibility to the enterprise software marketplace, replacing the 'one size fits all' approach. We are offering agile, cloud-based SaaS solutions that can be implemented by a wide range of businesses, from SMEs to larger enterprises, as and when they're needed, quickly delivering value."

Former Atlantic Global CEO Eugene Blaine, who will remain with the company to head up its technology operation, commented: “The team at Atlantic Global has created a world-class solution that has been adopted by some of the largest companies around the globe. The synergies between what Atlantic Global needed to drive the next phase in our expansion and what the KeyedIn team offered was startling. Bringing together our world-class products with the international sales and marketing experience of the KeyedIn team made this a compelling proposition for our employees, customers and shareholders.”

The new owners have committed to keeping the company in Yorkshire, significantly growing the UK team, and undertaking a major investment programme, which will see its software on sale worldwide.

ICON was appointed in September 2011 to find a suitable acquirer of the company. Following an International auction process, KeyedIn Solutions was selected as the preferred buyer of Atlantic Global. The deal was concluded within five months; the offer price at 22pence a share represents a 76 per cent premium to the share price prior to the commencement of the offer period valuing Atlantic Global at $8million.

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ICON secures investment for SaaS provider, Element 8

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Deal Release:

This investment confirms that strong management teams, with a differentiated technology offering and a clear route to market can still attract significant investment from quality investors

Eddie Harding, Investment Director
ICON Corporate Finance

20 Dec 2011

ICON secures investment for SaaS provider, Element 8

Element8 has developed a unique Enterprise Transformation Software Platform called xpoint™, which provides a rich, flexible Web 2.0 environment enabling businesses to implement and manage transformation projects in a structured and collaborative manner.

xpoint™ has been developed on a Microsoft SharePoint® based platform, which enables corporations to plan and managing of all types of change or transformation initiatives - including Innovation, Six Sigma, Cost Reduction, Continuous Improvement. Each type of change process has its own Lifecycle with supporting tools. Microsoft has described xpoint™ as “a lighthouse exemplar of a SharePoint® business application.”

Alex Clark, Element8 CEO and Founder, said "Managing change in today’s economic climate is challenging but despite this, most organisations still try to manage often complex human processes using spreadsheets and emails rather than with an effective collaborative work environment specifically designed to support exactly such key processes. xpoint™ can help improve business process and staff effectiveness resulting in significant and measurable financial benefits, with typical customers seeing a return on their investment in considerably less than a year."

Eddie Harding, Investment Director, ICON Corporate Finance said “We are delighted to have raised this institutional investment for Element8. Research shows that 70% of enterprise transformation projects fail. xpoint™ offers a truly novel proposition which strengthens the ability of organisations to automate their knowledge-based business processes, significantly enhancing the likelihood of success. This investment confirms that strong management teams, with a differentiated technology offering and a clear route to market can still attract significant investment from quality investors at a time when the overall environment for early-stage funding remains difficult.”

Element8 have a sales office in Boston.

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ICON secures investment for IOTA NanoSolutions

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Deal Release:

Having proven the technology over hundreds of applications, this funding from a strong partner will see the company well positioned to benefit from exponential growth

Alan Bristow, CEO
ICON

06 Nov 2011

ICON Corporate Finance secures Series B investment for IOTA NanoSolutions (“IOTA”).

IOTA is a developer of specialist nano-formulation technologies. It’s proprietary platform technology Contrasol ™ allow the transformation of insoluble materials into dry solid formats that form nanodispersions on contact with liquids.

IOTA’s solutions offer the opportunity to dramatically enhance the value of insoluble and poorly soluble active ingredients in a range of market sectors.

IOTA NanoSolutions Limited is actively exploiting its technologies and expertise in collaboration with multi-national companies including nutraceuticals, agrochemicals, global and speciality pharmaceuticals, foods, consumer/household products, cosmetics, inks and coatings.

New investor QIB joins incumbent investors Unilever Ventures, the funding will be used to further commercialise the technology and help IOTA exploit its technologies and expertise in collaboration with multi-national companies.

Alan Bristow, CEO of ICON who acted for IOTA on the fundraising added: “We are delighted to have worked with Andrew and his team to close this investment from new investors QIB UK alongside existing investors Unilever Ventures. Having proven the technology over hundreds of applications with global pharma and agrochemical companies, this funding from a strong partner will see the Company well positioned to benefit from exponential growth in both markets where the nano-enabled drug delivery market alone is estimated to be worth $220billion by 2015.”

The company originated from original research conducted at the University of Liverpool which was later commercialised within Unilever’s venture arm.

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ICON advises LalPac on its sale to AIM listed IDOX Plc

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Deal Release:

This acquisition will ensure that we continue to deliver innovative solutions to our customers that can help them achieve efficiencies

Martin Brooks, Chairman
IDOX

06 Sep 2011

ICON advises LalPac on its sale to AIM listed IDOX Plc

LalPac is one of the UK’s leading providers of licencing management software and services, supplying over 131 local authorities. The company has developed leading, proprietary software which makes the issuing, tracking and management of statutory compliance matters more cost effective. The company is profitable and has a high quality SaaS style recurrent revenue stream.

IDOX Plc is a leading developer and supplier of software solutions and information services to the public sector and increasingly to the wider corporate sector. The acquisition will see the LalPac suite of products take its place as an important part of a broader range of products and services that IDOX provides, covering service areas as diverse as Development Control, Revenues and Benefits, Environmental, Health, Elections administration, Housing and Social Care. Over 90% of UK local authorities are now IDOX customers

The completion of the acquisition was conditional on IDOX receiving confirmation from the Office of Fair Trading ('OFT') that the acquisition will not be referred to the Competition Commission for further investigation in accordance with the Enterprise Act 2002.

Martin Brooks, IDOX Chairman, said "This acquisition will provide significant cross-selling opportunities within our customer base and ensure that we continue to deliver innovative solutions to our customers that can help them achieve efficiencies."

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ICON advises on investment for SaaS software provider, Element8

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Element8 has developed a unique Enterprise Transformation software platform which provides a rich, flexible environment enabling businesses to implement and manage transformation projects

25 May 2011

ICON has advised on a further round of investment for SaaS software provider, Element8.

Element8 has developed a unique Enterprise Transformation software platform called xpoint™, which provides a rich, flexible Web 2.0 environment enabling businesses to implement and manage transformation projects in a structured and collaborative manner.

xpoint™ has been developed on Microsoft's SharePoint® platform, which enables corporations to plan and manage all types of change or transformation initiatives, including Innovation, Six Sigma, Cost Reduction, Continuous Improvement. Each type of change process has its own Lifecycle with supporting tools. Microsoft has described xpoint™ as “a lighthouse exemplar of a SharePoint® business application.”

Element8 has offices in the UK, Bangalore and Boston.

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ICON advises global aerospace company AVISA on its sale to Luxembourg based ENEX Group SA

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Deal Release:

We are pleased to have had the opportunity to acquire AVISA Group. We were very impressed with the quality of their management team and the growth opportunity the Company represents

Arthur Davis, Founder and CEO
ENEX Group SA

06 Dec 2010

ICON advises global aerospace company AVISA on its sale to Luxembourg based ENEX Group SA.

AVISA have offices in the UK, Eastern Europe, Asia and the Middle East. The business was founded in 2004 and has grown significantly to include the following blue chip clients: BA, BAE Systems, EasyJet, Honeywell, Ministry of Defence, QinetiQ, Westland Helicopters, Ryanair, The Civil Aviation Authority, Gulf Air, FlyDubai, Eithad Airways and Al Jaber Group.

ENEX Group SA is focused on acquiring and supporting the development of entrepreneurial fast growth companies. Following its significantly strengthened reputation as one of the world’s leading providers of aviation safety services over the last year the AVISA Group is set to play a key role in ENEX Group SA’s plans.

Commenting on the sale, Justin Goatcher, CEO & Founder of AVISA said: “We are extremely pleased to have acquired the backing of ENEX Group SA. Their participation will allow us to increase the capability and capacity of our current services and pursue growth and expansion as we move forward. In the longer term both current and new clients will benefit as we now have a commitment to growth that is underpinned by strong financial backing. This will see AVISA strengthen its status as a world leading provider in aviation safety services."

Arthur Davis, Founder and CEO of ENEX Group SA. added: “We are pleased to have had the opportunity to acquire AVISA Group. We were very impressed with the quality of their management team and the growth opportunity the Company represents.”

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ICON advises on the £3m MBO of Lanner Group, backed by NVM Private Equity

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Deal Release:

Lanner is a leading provider of Process Simulation Software which enables business managers to model, analyse and optimise new business processes, however complex

22 Jun 2010

ICON has successfully advised on the £3m management buyout of Lanner Group. The buyout was backed by NVM Private Equity.

Lanner is a leading provider of Process Simulation Software which enables business managers to model, analyse and optimise new business processes, however complex. Customers such as Nissan and Sanofi-aventis have achieved significant efficiencies and savings using these solutions.

Lanner was established in 1996 following the MBO of the simulation software division of AT&T originally backed by 3i. The company has since developed into a growing software product business with a variety of channels to market for their leading business improvement product portfolio, comprising: WITNESS; L-SIM; Px-Sim; and PRISM. Lanner works with partners such as IBM and IDS Scheer and end users include the likes of Ford, British Nuclear Group, UK Home Office, US Military, BAE, Nissan, Shell and GSK.

Lanner has offices in the UK, France and the US.

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ICON secures £4.5 million for Inetec from Naxos Capital Partners and Oxford Capital Partners

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Deal Release:

Inetec's patented technology is the only commercially available solution able to treat all types of food waste and represents a cost effective and environmentally responsible solution to what is becoming an ever increasing problem.

22 Jun 2010

Inetec has secured a further investment of up to £4.5 million of expansion capital from Naxos Capital Partners and incumbent investors Oxford Capital Partners. The additional funding will allow the company to further fuel its expansion and growth.

Inetec's patented technology is the only commercially available solution able to treat all types of food waste without the need for pre-treatment, packaging removal or adjustment of the machine and represents a cost effective and environmentally responsible solution to what is becoming an ever increasing problem.

Inetec has already made significant inroads into the £240m UK food manufacturing industry attracting a number of high profile food manufacturers as early customers.

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ICON advises NanoGaN on its sale to IQE Plc

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NanoGaN has established a range of unique processes and key intellectual property relating to the production of Gallium Nitride (GaN) materials and devices

22 Dec 2009

ICON has advised NanoGaN, a semiconductor technology spin-out from the University of Bath, on its sale to IQE Plc, the leading global supplier of advanced wafer products and services to the semiconductor industry.

NanoGaN has established a range of unique processes and key intellectual property relating to the production of Gallium Nitride (GaN) materials and devices. This includes its proprietary Nanocolumn Technology for producing high quality, free-standing Gallium Nitride substrates, which are critical for manufacturing high quality blue and green semiconductor lasers (as used in high definition optical storage including Blue Ray products) and ultra high brightness LEDs for Solid State Lighting (SSL).

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ICON advises Axis Three on £2m funding led by Crescent Capital with Clarendon Fund Managers and Siemens among the investors

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Deal Release:

Current applications target the cosmetic surgery market ... future applications will target the medical podiatry/orthopedic sectors and 3D gaming animation

22 Aug 2009

ICON Corporate Finance advises Axis Three on its £2m funding round. The investment was led by Crescent Capital with Clarendon Fund Managers and Siemens among the investors who followed their money.

Axis Three creates the standard for predictive surgical simulation. By integrating patented image capture technology developed by Siemens, with its own innovative software, Axis Three delivers a paradigm shift in medical imaging: Precise surface anatomy capture, breakthrough simulation technology, interactive, photo-quality three dimensional (3D) models, and powerful tools that display post surgical results.

Current applications target the cosmetic surgery market and are available for the face and breast; however, future applications will target the medical podiatry/orthopedic sectors and 3D gaming animation.

The company will use the funding to accelerate sales and marketing and to develop software upgrades and new applications.

Axis Three has offices in Belfast, Northern Ireland and Boston, Massachusetts.

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ICON advises First Ondemand on its funding round

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Deal Release:

First Ondemand's core product, Authentisec is a security authentication platform and management system that carries the ‘DNA’ of the person, product or transaction it is securing

22 Jul 2009

ICON Corporate Finance advises First Ondemand on its funding round.

The company develops security, authentication and verification software and its core product, Authentisec is a security authentication platform and management system that carries the ‘DNA’ of the person, product or transaction it is securing. It effectively then encrypts this DNA / identity to defense level standards and securely authenticates it in real time over IP networks.

Authentisec helps companies reduce the costs caused by fraud and the expense of their business security operations by offering a cost effective solution for securing large volumes of documents, credit cards, transactions, passports and e-mail.

The marketing opportunity in security software spend is expected to rise from $10.5 billion to over $13.1 billion in 2012.

First Ondemand won first place in the 2008 Oracle Partner Technical Innovation Awards, a coveted achievement given there are over 20,000 Oracle partners today.

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ICON advises Aria Networks on £2 million fundraising from Seraphim Capital

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Deal Release:

Aria has a unique product offering for the huge and fast growing OSS market, and in a very short period of time has won a number of top tier reference customers in the sector

Eddie Harding
ICON

25 Dec 2008

ICON has successfully advised the shareholders of Aria Networks on the completion of a £2 million fundraising secured from Seraphim Capital’s venture capital fund based in the UK.

Aria Networks, is a leading provider of planning and optimisation solutions for Next-Generation Networks. Their technology is highly disruptive and has the capability to fundamentally change the economics of a telecom operator’s business.

Using Aria’s intelligent network planning software, telcos are able to design, plan, optimise and operate their Next-Generation Networks. Aria is capable of doing in minutes what it takes large teams of engineers and planners months to achieve. Furthermore, the functionality provided by Aria enables telecom operators to economically build their network and to reliably deliver the myriad of services they offer, including voice, data, broadband and television services over a single network.

Commenting on the investment Tony Fallows, CEO of Aria said: "We are pleased to have completed this round of investment. Over the last year we have made significant progress with our customers and partners around the world. With Seraphim’s backing, we now have the capability to further execute on our unique technology and business strategy”.

Eddie Harding of ICON Corporate Finance who advised Aria’s board on the deal said “Aria has a unique product offering for the huge and fast growing OSS market, and in a very short period of time has won a number of top tier reference customers in the sector. This funding from Seraphim will help the Company to accelerate its current growth path and become a truly global technology offering.”

“Aria is an outstanding investment opportunity”, said Mark Boggatt, Investment Director at Seraphim Capital. “Aria has a perfect blend of world-class technology and an exceptional management team. The Company has already demonstrated its ability to work with some of the world’s leading telecoms companies and vendors and with this injection of funds we believe the company will enter a phase of rapid growth.”

Aria Networks is a finalist of Red Herring 100 Europe, an award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year.

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ICON advises on the sale of EB2 International to Sabre Holdings

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Deal Release:

The acquisition will result in the industry’s most powerful airline internet booking engine with advanced pricing and shopping capabilities

22 Dec 2008

ICON has successfully advised on the sale of EB2 International to Sabre Holdings based in Dallas, Texas.

EB2 International Limited (EB2) is a London-based, leading independent supplier of e-commerce enabling software products, solutions, infrastructure and services to global airlines. They have created a flexible internet booking engine that can quickly adapt to the rapidly changing needs of both online consumers and the airlines.

EB2, and its products, will become part of Sabre Airline Solutions, the world's leading provider of integrated solutions and services for airlines and airports. The acquisition will result in the industry’s most powerful internet booking engine with advanced pricing and shopping capabilities.

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ICON raises funding for GoScience from Kenda Capital

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Deal Release:

GoScience provides sensor technology services and products to the exploration, environmental science, defence & homeland security sectors

22 Nov 2008

ICON Corporate Finance have successful raised funding for GoScience from Kenda Capital who manage the Shell Technology Ventures Fund.

GoScience provides sensor technology services and products to the exploration, environmental science, defence & homeland security sectors.

Products and services include: undersea acoustics, communications, remote sensing, imaging and analysis, alongside, distributed processing systems, low carbon, low energy autonomous underwater or airborne vehicles and sensors using artificial intelligence.

The Company is specifically focused on mobile sensor grid technologies which offer economies of scale in survey automation. In particular the company provides mobile sensing technology in acoustic, seismic, electro magnetic and video domains.

GoScience are currently working with blue chip multinational companies in the UK and overseas to develop future surveying projects.

The Deal:

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ICON secures funding for Ocean Blue Software from Dutch investment house Scaent Holdings

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Deal Release:

ICON did a superb job and introduced us to Dutch investment house Scaent Holdings, who bring both funding and a channel into the Russian and Eastern Block countries

Kenneth Helps, CEO and Founder
Ocean Blue

22 Sep 2008

ICON Corporate Finance successful raise funding for Ocean Blue Software from Dutch investment house Scaent Holdings.

Ocean Blue provide world-class quality software solutions, software engineering services and business and technology solutions for the Digital Home, Digital TV, mobile TV and Digital Video Broadcasting (DVB) markets, including DVB-T, DVB-S and DVB-H.

Their DVB, PVR content management and MHEG software technology are at the core of a new generation of broadcast platforms, these include mobile phones, portable media players (PMP), Internet based Digital televisions (IPTV) as well as existing media platforms such as Digital terrestrial, cable and satellite. They also supply software for the Freeview Playback brand.

Customers include Toshiba, Philips, Ali Corporation (Taiwan) and Mediatek (Taiwan) and number of global semiconductor and consumer electronics corporations.

Kenneth Helps CEO and founder of Ocean Blue commenting on the deal said: "We were very careful to select both our investment advisers and our investors, ICON did a superb job and introduced us to Dutch investment house Scaent Holdings, who bring both funding and a channel into the Russian and Eastern Block countries".

The funding will be used to open a sales and software office in Hong Kong and also a software support centre to assist in the company's expansion into Russia and Asia.

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Fluency Voice sold to Enghouse Systems

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Deal Release:

We are very pleased with the acquisition of Fluency which will give us an enhanced presence in the European marketplace.

Stephen Sadler, Chairman & CEO
Enghouse

22 Jun 2008

ICON advise on the sale of Fluency Voice to Syntellect, a subsidiary of Enghouse Systems based in Ontario, Canada.

Founded in 2001, privately held Fluency provides on-premise and hosted packaged speech recognition solutions for call centers to improve customer service and significantly reduce costs. Based in London, England and with a sales office in Boston, Massachusetts, Fluency has approximately 27 employees.

"We are very pleased with the acquisition of Fluency which will give us an enhanced presence in the European marketplace", stated Stephen Sadler, Chairman & CEO of Enghouse. "Enghouse continues to pursue its strategy of seeking further acquisitions to expand its market presence."

Steve Dodenhoff, President of Syntellect added "Fluency's broad range of deployed speech applications, VSA SuiteTM and hosted speech capability enables companies to deploy speech recognition systems flexibly, rapidly and at a low cost. The adherence to open standards and industry recognised architecture, provide the combined organisation added potential to address the wider market today."

Fluency's operations will be integrated with Syntellect in the USA and the UK.

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Covelus sold to Anoto AB

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Deal Release:

Covelus sold to Anoto AB

22 May 2008

ICON Corporate Finance advises the shareholders of Covelus Limited on its sale to Swedish company Anoto AB.

Covelus is a technology company based in Liverpool producing solutions for digital pen & paper and it owns a platform for a wide range of devices such as PCs, PDAs, mobile phones & access points, which routes digital pen stroke data to an end destination such as an email address or server.

In addition, it provides various enterprise server solutions to administrate routers, digital pens and applications, either hosted by Covelus, or owned outright by developers.

Anoto Group AB is the pioneering leader of digital pen & paper technology. Anoto technology optimizes paper-based processes by rapidly and reliably converting handwritten information from business forms into digital documents.

The Anoto Group has around 100 employees, offices in Lund, Boston and Tokyo.

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Gamma Projects sold to Enghouse Systems

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Deal Release:

It's a natural fit for Enghouse, it gives us a new footprint and an expanded geographical presence in the growing mobile market

Anthony Pearlman, President
Enghouse AMD

25 Feb 2008

Gamma Projects provides network infrastructure management software solutions and consultancy services for telecommunications operators and equipment vendors. The company's software product named Gamma's NetOne is an integrated suite of software that enables telecommunication companies to streamline the complex processes of planning, implementing, operating and optimizing mobile network infrastructures.

Commenting on the acquisition, Anthony Pearlman, President of the Enghouse AMD said: "It's a natural fit for Enghouse, it gives us a new footprint and an expanded geographical presence in the growing mobile market."

Enghouse is a leading global provider of enterprise software solutions serving a variety of distinct vertical markets. Its strategy is to build a larger and more diverse software company through strategic acquisitions and managed growth. Enghouse shares are listed on the Toronto Stock Exchange.

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Insight Test Services sold to Sogeti

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Deal Release:

We believe that by joining forces with the Insight team, we will immediately be able to provide a broader, deeper range of services to our clients.

Michael Connolly, CEO
Sogeti Ireland

25 Jan 2008

ICON Corporate Finance advises shareholders of Insight Test Services on its sale to Sogeti.

Insight, based in Dublin is a market leader in software testing services, primarily for major clients in the financial services, utility, ICT and public sectors. Founded in March 2003, the company has grown rapidly to become the leading software testing provider in Ireland and the UK with over 75 staff.

The acquisition will see Sogeti Ireland grow to 200 staff by the end of 2008. Globally the company employs 18,000 people in high tech consulting and application services/systems. It is the market leader globally in software quality assurance and test services with over €1.3bn in global revenues. Sogeti is a member of French listed Cap Gemini Group.

Michael Connolly, CEO of Sogeti Ireland commenting on the deal said: "We believe that by joining forces with the Insight team, we will immediately be able to provide a broader, deeper range of services to our clients. The combined organisation gives us critical mass to increase our delivery capability across all of our services lines, from Client Advisory Services, SAP, Microsoft, IBM and of course testing. This will make us more attractive to our current and future clients and as an employer."

Brian Parker, Head of M&A at ICON Corporate Finance, who advised the Insight shareholders, said: “We had interest from a number of parties in Europe and the US but Sogeti represented the best offer both financially (with its cash and earn out structure) and strategically, given their global presence. We are delighted to close another cross-border technology deal and complete our first exit in Ireland; despite the challenging macro environment brought on by the credit crunch in the global financial markets.”

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MMIC Solutions

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Deal Release:

MMIC Solutions

24 Jan 2008

ICON secure £2.7 Million investment for MMIC Solutions Ltd, the Ledbury, UK based supplier of innovative module and subsystem solutions for commercial millimetre wave applications.

New investor YFM Group and existing investor Scottish Enterprise investing through the Scottish Venture Fund, joined the round along with the company’s other existing investors, including NESTA and AEGF.

Having raised seed funding of more than £1.5M so far, the company has already developed and sold 94GHz receivers to a number of manufacturers of millimetre wave security imaging systems. The ability to use millimetre waves to detect non-metallic materials concealed about the body including weapons, explosives, and illegal goods is generating a lot of interest, with systems being deployed at many commercial and civic infrastructure locations, and at airports in the US and Europe.

The company is also developing low cost modules for high capacity communications applications. These links support data rates of 1Gbit/sec and more, and operate in various unlicensed and ‘light-licensed’ bands between 60 and 80GHz.

Rodger Sykes, CEO of MMIC Solutions, commented “We are very pleased by the investment community’s interest in MMIC Solutions, and the continuing confidence shown by our existing investors. The demand for our innovative technology continues to grow in applications such as weapons detection and high bandwidth communications, and this significant investment allows us to expand our team and production capabilities to address the many opportunities our customers are presenting to us.”

Julian Dennard, Senior Investment Manager of YFM Group commented; “MMIC Solutions’ unique capabilities are enabling new solutions to directly address global trends in security, weapon detection, and escalating wireless bandwidth needs. We are pleased to be a part of their growth to exploit these opportunities.”

Jonathan Lloyd-Hirst, Investment Manager for the Scottish Venture Fund, added; ”By establishing its UK production operations in Scotland, MMIC Solutions joins the growing number of cutting edge technology companies choosing Scotland as their base. Innovative companies such as MMIC Solutions demonstrate the high calibre of investment opportunities for our investment partners.”

About MMIC Solutions

MMIC Solutions Ltd. is fast becoming a global leader in the millimeter wave industry, developing solutions for equipment makers in several markets including security imaging, high bandwidth communications, and high-resolution radar. The company designs, manufactures, and supplies innovative solutions for a range of systems operating at frequencies between 50GHz and 250GHz. For more information about MMIC Solutions Ltd, please visit mmicsolutions.com YFM GroupYFM Group – is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £300 million of funds with investment sizes ranging from £50,000 to £5 million. YFM Group’s fund management subsidiaries, YFM Private Equity Limited and YFM Venture Finance Limited are authorised and regulated by the Financial Services Authority. For more information visit: yfmgroup.co.uk

About Scottish Enterprise

Scottish Enterprise is Scotland’s main enterprise, innovation and investment agency and is focused on supporting business growth and developing a competitive business environment. Working in partnership with industry, academia and the public sector, SE aims to play its part in delivering the Scottish Government’s new economic strategy to increase productivity in Scotland by helping businesses grow, encouraging greater innovation and creating the right conditions for companies to access property, markets and finance. Further information can be found at scottish-enterprise.com

Scottish Venture Fund provides investments of up to £2m per transaction in partnership with the private sector on at least a matched funding basis in syndicated transactions, typically, between £2m and £10m. Further information on Scottish Enterprise investments is available at scottish-enterprise.com/equity-funding

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L3 Technology

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Deal Release:

L3 Technology

23 Jan 2008

ICON has successfully advised L3 Technology (L3T) on the completion of a £1.75m fundraising led by Catapult Venture Managers.

L3T is developing an exciting new point of care medical device for the accurate measurement of blood cholesterol including full lipid analysis. The technology enables instant results for patient testing in GP surgeries, with the accuracy and precision of central laboratory analysis.

With low costs per test and rapid, accurate results, this will make programmes for the widespread screening and monitoring of cholesterol levels a commercially viable proposition.

L3T was founded by Anglo Scientific and CLIK, the commercialisation arm of the Science and Technology Facilities Council (STFC). Its technology was developed by a collaboration of scientists at Daresbury Laboratory. Henry Hyde-Thomson the Chairman of Anglo Scientific commenting on the deal said: "We are delighted with closing the new investment in L3Technology and appreciate the assistance provided by the team at ICON."

Coronary Artery Disease (CAD), of which a major contributing factor is high cholesterol, is set to become the biggest killer disease worldwide by 2010 - according to the World Health Organization.

Not all cholesterol is bad for you. Cholesterol is made up of several sub-fractions, some of which are very good for you and only some of which are very bad for you. An over-the-counter cholesterol test does not distinguish between the sub-fractions. A laboratory test breaks cholesterol down to good and bad, but it typically takes a minimum of three days to get the data back and requires a healthcare professional to take a blood sample. L3T's technology gives you all of this information, with accuracy better than the best laboratories from a pin-prick of blood in 60 seconds.

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Insurance4CarHire sold to Towergate

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Deal Release:

Insurance4CarHire sold to Towergate

21 Jan 2008

ICON has advised the shareholders of Insurance 4 Car Hire on its sale to Towergate.

Insurance 4 Car Hire (I4CH) is an internet based insurance agency providing specialist insurance products for the car rental market. Founded 5 years ago by Larry Ursich, I4CH provides customers with a number of products designed to insure against the high excess that can be charged by car rental companies when hiring a vehicle. The company offers products that include cover for damage to windows, tyres, roof and the undercarriage of the vehicle, which tend to be general exclusions of car rental agreements.

Larry Ursich who will remain as MD of the acquired business and join the Towergate management team commented: “We were very impressed with ICON, their corporate finance tactics added significantly to the value of the deal.”

James Thomas, Investment Director at ICON commented: “The terms offered by Towergate and the good cultural, geographic and strategic fit provides an attractive transaction for stakeholders, but importantly it also provides an opportunity for the management and employees to be part of a vibrant larger business going forward”.

In a statement Towergate said: "The acquisition of I4CH provides Towergate access to a successful internet based business where all sales and fulfilment are carried out online. This will help Towergate strengthen its online capabilities and build its expertise further in the distribution of consumer products online."

Peter Cullum, Executive Chairman of Towergate added: "This is a business with a great track record and significant growth potential. It’s yet another great signing for Towergate which will help strengthen our online capabilities and product offering to customers”.

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InTo Technology

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Deal Release:

InTo Technology

25 Nov 2007

ICON has successfully advised InTo Technology on its latest funding round of £4.5m which shall be used to support the marketing of the Intoscape Technology platform.

InTo Technology has developed the Intoscape™ Technology platform, an Integrated Supply Chain Management and ERP software solution developed for the burgeoning global online retail / reseller markets. The Intoscape™ solution uses standard communications combined with complex business algorithms to proactively manage the complex and fast moving relationships between suppliers, vendors, competitors, retailers and customers improving business efficiency in merchandising, marketing and procurement whilst requiring significantly less human resources.

To demonstrate the commercial advantages of the Intoscape platform, Into Technology Limited have deployed their own technology in an internet trading business IT247.com, which offers computers and peripherals to the UK SME marketplace via its website and integrated customer services centre. In this application, Intoscape™ technology has been integrated with a globally standardised mid market ERP system and web store to give customers access to the largest UK online catalogue of over 150,000 IT products with real time information on best pricing and stock availability.

The resulting faster time to market with products and pricing, and the savings in operational costs deliver significantly better bottom line profits to e-retailer’s already having to trade in fiercely competitive markets.

The Deal:

Deal Release:

The funding from the YFM Group has come at an exciting time for the company. This investment enables us to aggressively promote Mirimon to the global market and to make further enhancements to the product.

Paul Tinkler, CEO, Mirifice

25 Oct 2007

ICON has successfully advised Mirifice on raising its first round of institutional investment from YFM Group.

Mirifice has developed MirimonTM, a unique monitoring solution for Digital TV networks, and the funding will be used to support the marketing and rollout of the product to major cable, satellite and IPTV broadcasters.

Mirifice's current customer base includes leading Digital TV broadcasters and Set Top Box manufacturers such as Virgin Media, Sky, Pace, Amino, Thomson, OpenTV and Scientific Atlanta.

MirimonTM enables broadcasters to improve the customer experience they deliver: reducing churn; improving customer acquisition; and encouraging the adoption of revenue generating services. This also enables more efficient customer relationship management, network management and set-top box management, thus significantly reducing operational costs.

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Deal Release:

AuPix

25 Aug 2007

AuPix Ltd - ICON advises video VoIP company on fundraising

AuPix is a leading developer of state-of-the-art IP video communications solutions.

The Bristol firm's flagship product is the AP-100 VoIP ("voice over IP") video phone and they licence their technology to OEMs and ODMs, enabling them to bring their own IP video endpoints to market quickly and cost effectively.

AuPix was established in 2006 to acquire the intellectual property rights and assets of video phone technology developed by the SCOTTY Group plc, formerly Motion Media plc. Funding from South West Ventures, Finance South West Growth Fund and Business Angels alongside management and existing investors will be used to take the business through its next phase of development.

The Deal:

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Inetec Secures £1m

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Deal Release:

Inetec Secures £1m

25 Aug 2007

Inetec has secured a further £1 million of expansion capital from incumbent investors Oxford Capital Partners and Finance Wales.

The additional funding will allow the company to further fuel its expansion and growth.Inetec's patented technology is the only commercially available solution able to treat all types of food waste without the need for pre-treatment, packaging removal or adjustment of the machine and represents a cost effective and environmentally responsible solution to what is becoming an ever increasing problem.

Inetec has already made significant inroads into the £240m UK food manufacturing industry attracting a number of high profile food manufacturers as early customers.

The Deal:

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Oligon sold to Wolfson

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Deal Release:

Oligon sold to Wolfson

25 Jul 2007

ICON acts as corporate finance advisers to Oligon, which has been sold to Wolfson Microelectronics Plc

Under the terms of the deal Wolfson is paying up to $5.7 million (£2.9 million) for Oligon. The consideration involved an initial payment of $2.75m (£1.4m) on completion of the deal, with the remainder being deferred subject to the achievement of certain milestones.

The acquisition is in line with Wolfson’s strategy to invest in long term product development and engineering resources in high performance mixed signal semi conductors.

Oligon was co-founded by Richard Laming and Mark Hesketh. Richard also co-founded optoelectronics company Kymata which was sold to Alcatel for in excess of $110million. Mark has extensive product delivery experience with a number of leading SME and Blue chip companies.

The Deal:

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Concurrent Thinking

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Deal Release:

Concurrent Thinking

25 May 2007

Concurrent Thinking has successful raised £1.7m.

Concurrent Thinking is a leading provider of cluster integration and monitoring software and services to the High Performance Computing (HPC) or Supercomputing market.

Concurrent Thinking has established a reputation for delivering high quality clusters in the UK, Europe and the Middle East. It has now delivered over 250 systems, including seven that have appeared in the Top 500 list of the world's most powerful computers, and its customers include Rolls Royce, Corus, Schlumberger, Chevron Texaco and most of the UK's leading universities. It also provides development tools to optimise and debug programs on massively parallel systems. The software has been accredited by major Tier One vendors such as HP, IBM and Sun Microsystems, and is currently being ported to some of the largest supercomputing platforms in the world.

The funding will be used to scale the business both internationally and into the broader enterprise computing market.

The Deal:

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Aria Networks Seed Funding

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Deal Release:

Aria Networks Seed Funding

25 Apr 2007

ICON has successfully advised Aria Networks on the completion of a £500K funding round with private investors. Aria Networks has developed a unique product suite called intelligent Virtual Network Topologies (iVNT) which allows telecommunications carriers to plan and optimise increasingly complex multi-service Next Generation Networks.

Telcos are increasingly focused on "convergence" - namely the ability to offer voice, broadband and television services to their customers over a single network. To do this they are already building new networks using new technologies, based mostly around Internet Protocol and commonly referred to as Next Generation Networks (NGNs). Using Aria’s intelligent network planning software, iVNT enables telcos to design, plan, optimise and operate their NGNs and the services offered to their customers.

The Deal:

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Anvil Software sold to ION Trading

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Deal Release:

Working with Anvil we will be able to extend our product coverage to repo and securities lending and further enhances our global client support capability

Andrea Pignataro, CEO & Founder
ION

25 Oct 2006

ICON advises software company Anvil on its sale to ION Trading. Dublin-based Ion Trading, a provider of dealing systems for electronic fixed income markets, is acquiring Anvil Software, a UK-based supplier of software for repo trading and securities lending. Financial terms of the deal were not disclosed. Founded in 1988, Anvil provides front- and middle- office systems and consultancy services to financial services firms including ABN Amro, Barclays Capital, Fortis, ING Financial Markets, Rabobank, Royal Bank of Canada and Wachovia Securities.

The vendor's systems and span trading and risk management for bonds, repo, F/X, money markets, options, futures, swaps, equities, securities lending, cash management, order management, electronic exchanges and more.

The firm has offices in London, New York, Toronto, Sydney and Malta.

Joe Nicholson, MD of Anvil Software, says the acquisition is good news for clients: "ION will bring its significant market presence and strategic direction to our business, and the market can expect more innovative technology solutions from the combined group."

Nicholson will remain as MD of the acquired business and join the Ion management team.

Andrea Pignataro, CEO and founder of ION, says: "Working with Anvil we will be able to extend our product coverage to repo and securities lending and further enhances our global client support capability."

The Deal:

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DeepStream Technologies

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Deal Release:

DeepStream Technologies

25 Sep 2006

ICON secures equity funding from new investor 3i and existing investors Doughty Hanson Technology Ventures for disruptive embedded sensor company as part of an overall £12.3 million Series B investment. 3i and Doughty Hanson have together invested £8.1 million in this round and further funding was secured from a £1.5million Regional Selective Assistance grant and a £2.7million property development grant. ICON also represented DeepStream on its Series A investment.

DeepStream designs and manufactures intelligent embedded sensors which make electrical products smart. This enables the acquisition and communication of valuable data, providing diagnostic, prognostic and energy management capabilities within building automation applications or electrical appliances. The funding will be used to expand the company's range of solution platforms for new markets, partcularly energy management, medical and appliance sectors, as well as expanding its revolutionary production operations to increase capacity.

In April 2008, following a 4 year technology partnership, DeepStream announced its first major client, Moeller Automation, the leading European electrical product manufacturer, who are using a bespoke design of DeepStream’s proprietary 3D circuitry to overcome a hostile product environment and launch the worlds first digital Residual Current Device.

The company also recently announced that it will soon move into the own branded networked energy products market, where its 3D circuits and energy software platform will enable the integration of Energy Intelligence into everyday electrical products and launch next generation energy efficient products.

"ICON made the process of raising finance very efficient for both the company and the investor. ICON’s knowledge of the investor base, and the processes used to make decisions, ensured the company was properly represented and maximised the probability of success. Both investor and management’s time is scarce, and hence the skill and expertise of ICON was a major success factor for the company raising quality finance"
Nigel Grierson, Investment Director, Doughty Hanson Technology Ventures

The Deal:

Deal Release:

AIM

25 Jul 2006

ICON advises Action Information Management on its sale to Trapeze Group

ICON Corporate Finance has successfully advised Action Information Management Ltd (AIM) on its sale to Canadian based Trapeze Group.

AIM’s market leading telematics technologies for real-time passenger information; journey planning; and mobile workforce management complement Trapeze’s product portfolio that includes scheduling, crewing, contract and revenue management, and dispatching technologies.

The acquisition of AIM allows Trapeze to further enhance its ability to deliver world class systems.

The Deal:

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Inetec secures £2.5m

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Deal Release:

Inetec secures £2.5m

06 Mar 2006

ICON has secured £2.5m of expansion capital for Inetec that will allow it (in conjunction with its industrial partners) to deliver first industrial scale deployments of its end-to-end waste-to-renewable-energy technology solutions.

Inetec uses its proprietary technology to convert industrial food waste into a stable biofuel. This biofuel can then be converted into gas and combusted in a combined heat and power plant to produce heat for industry and renewable electricity for the grid.

Inetec patented technology is the only commercially available solution able to treat all types of food waste without the need for pre-treatment, packaging removal or adjustment of the machine and represents a cost effective and environmentally responsible solution to what is becoming an ever increasing problem.

Inetec has already made significant inroads into the £240m UK food manufacturing industry attracting a number of high profile food manufacturers as early customers.

Testimonial
"Our previous experience of using advisers to help with fundraising had produced mixed results and we often struggled to see the added-value that they could bring to the process. However, having been recommended to meet with ICON by our Chairman, we were immediately impressed their appreciation for our business, their understanding of the funding market as well as knowledge of the key institutions and individuals that we should speak to. ICON worked with us to develop our corporate finance strategy and played an instrumental part in liaising between management, incumbent investors and prospective new investors to help us close a new round of funding in under 3 months from start to finish. I would definitely recommend ICON."
Mike Deacon, Finance Director, Inetec

The Deal:

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KISS sold to Cisco

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Deal Release:

Cisco is trying to make its brand as important to consumers as it is to corporate buyers. This acquisition is a step in that direction

Zeus Kerravala, Yankee Group senior analyst

25 Dec 2005

Cisco Embraces KiSS in $61 Million Acquisition

Cisco Systems acquires privately-held Denmark KiSS Technology for its Linksys division in a US$61 million cash and stock agreement.

Cisco is betting KiSS' networked entertainment device portfolio, which includes home video products such as networked DVD players and recorders, will compliment Linksys' Voice over Internet Protocol wireless and networking hardware for the home.

The KiSS acquisition maintains Cisco's core strategy that uses acquisitions to build new technologies and speed time-to-market for its products. The deal provides Linksys with technology, intellectual property, and customers.

Cisco expects the addition of KiSS's employees to provide Linksys with a development team focused exclusively on the networked entertainment market and aid in creating a foundation for its internal R&D capabilities.

Yankee Group senior analyst Zeus Kerravala told TechNewsWorld that KiSS definitely fits the profile of a Cisco buy. Historically, Cisco has acquired smaller companies targeted at very focused areas. "Content is moving to the network and you see Cisco starting to acquire companies that play in that realm," he said. "I think this is the first of what could be many more acquisitions in this space."

The timing appears good. According to market researcher In-Stat the worldwide networked entertainment market reached $3.9 billion in revenue at the end of 2004 and is expected to grow to $16.1 billion by 2009. In-Stat also estimates that networked entertainment devices will be in use on more than 38 percent of home networks by the same period.

KiSS's technology platform allows consumer to integrate the home network so devices can access content on the Internet or on other devices on their home network. It's standards-based approach contributes to interoperability across platforms and product categories. Cisco said this interoperability will create opportunities for collaboration with other manufacturers and content providers.

Cisco said Linksys will continue to support and sell KiSS's existing products in Europe. Over time, Linksys also plans to develop a suite of targeted products for other world markets.

Cisco snapped up Linksys because it offered an attractive parallel to its carrier business, according to analysts. Cisco now is looking for ways to deliver more content over the Internet into homes.

"Cisco is trying to make its brand as important to consumers as it is to corporate buyers. This acquisition is a step in that direction," Kerravala said. "It's rare that you see a company succeed in both a corporate and a consumer business. But since Cisco's entrance into the consumer space is through content delivered over a network, there is an opportunity."

The Deal:

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Meiosys sold to IBM

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Deal Release:

Meiosys sold to IBM

25 Nov 2005

IBM has acquired Meiosys, which provides software technologies to dynamically move applications from one set of servers to another without disruption.

Meiosys products are used in the high-performance computing sector. Its MetaCluster product allows users to transfer applications between servers without having to modify or recompile them.

IBM said it would be integrating Meiosys technology into its own products and services later this summer. Meiosys technology already integrates with IBM’s Tivoli Provisioning Manager software.

Rod Adkins, IBM vice-president of development at the systems and technology group, said, “This acquisition gives IBM the ability to provide even more innovative capabilities for Unix and Linux, and will help advance our information-on-demand strategy and virtualisation capabilities for customers.”

Adkins said the advanced capabilities of Meiosys would complement Big Blue’s development roadmap for AIX 5L, IBM's strategic platform for Unix development, and help offer customers new application management and server consolidation solutions.

The purchase price for Meiosys has not been disclosed. The company is based in the US and Toulouse, France, and is strategically financed by a number of companies, including Cisco.

The Deal:

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Brilliant Weekends

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Deal Release:

Brilliant Weekends

25 Sep 2005

ICON secures angel development capital for leading short breaks online travel business.

ICON has secured £205K of funding for online travel operator Brilliant Weekends, one of the UK's premier providers of short breaks for groups. Brilliant Weekends operates quality breaks for groups of six people or more in over 100 destinations throughout the UK and Europe, and has exclusive online distribution deals with EasyJet and FlyBE. The business has experienced significant growth since it began trading 3 years ago and the new funding will enable the company to support marketing efforts with its strategic partners and scale its intenal systems through investment in its own in-house bookings system.

The funding was raised from a consortium of angel investors led by The South West Angel Investor Network (SWAIN).

The Deal:

Deal Release:

Datanomic

25 Feb 2005

ICON secures £2.5 million investment for Europe's fastest growing data company.

ICON secures a second round investment of £2.5 million for Datanomic from 3i and existing investors DN Capital.

Datanomic specialises in end-to-end data quality management and information assurance. It delivers the world's only integrated data quality software system that combines data audit, clean, error prevention and compliance.

The company solves data quality and business process problems for its rapidly growing European blue chip client base across all sectors including telecoms, finance, utilities and engineering. Existing clients include AMEC Oil and Gas, Powergen, Alliance & Leicester and COLT Telecom.

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In2Focus sold to United Drug

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Deal Release:

In2Focus sold to United Drug

25 Jan 2005

ICON has advised the shareholders of In2Focus on its sale to United Drug Plc.

In2Focus is a leading provider of pharmaceutical services to international pharmaceutical manufacturers in the UK. The company is based in Berkshire and employs over 300 people.

The sale to United Drug Plc, Ireland's leading healthcare services provider, builds on United Drug's strength in the rapidly growing UK market.

The Deal:

Deal Release:

Jaluna

25 Dec 2004

Headquartered in France, virtulization software company Jaluna have raised a $12M A-round from Atlas and Index Ventures.

Subsequently the company has changed its name to Virtual Logix and has gone on to raise $16m from a syndicate led by Esprit Capital Partners, and including new investor Intel Capital, and existing investors Atlas Venture. In 2010 Virtual Logix merged with Redbend.

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EVE sold to Synopsys

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Deal Release:

EVE sold to Synopsys

22 Nov 2004

Synopsys, a global leader providing software, IP and services used to accelerate innovation in chips and electronic systems, completed the acquisition of EVE, a leading supplier of emulation platforms for SoC verification.

EVE offers industry-proven emulation technology used by major semiconductor and electronic systems companies worldwide. EVE emulation systems deliver the highest performance and capacity, a broad portfolio of transactors, and the lowest price per gate.

Emulation is a rapidly growing solution in the spectrum of technologies used to verify today's highly complex systems on chips (SoCs). Integrating EVE's technology with Synopsys' best-in-class platform of simulation, debug, verification IP (VIP), coverage, static verification, low power verification, FPGA prototyping and virtual prototyping solutions will give Synopsys customers access to the broadest verification offering in the industry.

The Deal:

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Iris Technology

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Deal Release:

Iris Technology

25 Oct 2004

ICON secures £1m investment for advanced telemetry company.

ICON has successfully advised the management of IRIS Technology Limited on raising a further £1 million equity investment from Northern Venture Managers.

IRIS specialises in Technology for the transmission of data from remote platforms such as moving vehicles or underwater systems. Its product is based upon its Integrated Remote Intelligence System which can transfer large volumes of real time data over a single link directly into its clients' own IT systems. This technology is particularly important for the automotive industry, where it can be used to give cost-effective information in pre and post production vehicle testing. It is currently the only data transfer platform that is accredited by the Vehicle Certification Agency and that has EC 95/96 approval.IRIS recently won a number of major new contracts and the investment will be used to ramp up the scale of operations accordingly.

The Deal:

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Gibson Music sold to Holloway White Allom

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Deal Release:

Gibson Music sold to Holloway White Allom

25 Aug 2004

ICON Corporate Finance advised the shareholders of Gibson Music on its £1.4m sale to Holloway White Allom (HWA).

The acquisition will form the cornerstone of a new Prestige Interiors division for HWA.

Gibson Music is known for its pioneering design and installation of home automation systems, including integrated multi-room audio, home cinema, lighting, automated control systems and communications.

The company will continue to be run as an independent business, with Angus Gibson and Mervyn Chaplin at the helm.

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Enigmatec secures $6m from Intel

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Deal Release:

Enigmatec secures $6m from Intel

25 Jun 2004

Enigmatec secures $6m third round funding from Intel.

Enigmatec Corporation offers a strategic software management layer between the business processes that drive an enterprise, and the IT resources required to execute them.

The new funding of $6m will be used to support go-to-market activities and continued product development. In addition to Intel Capital's funding of Enigmatec, the two technology firms plan to work together to develop specific features within Enigmatec's software that leverage platform management capabilities developed within the Intel® Cross-Platform Manageability Program (Intel® CPMP).

The Deal:

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Mobile Commerce

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Deal Release:

Mobile Commerce

25 Jun 2004

ICON wins third round funding for the UK's leading provider of wireless location-based services - Mobile Commerce Ltd.

ICON has advised the management of Mobile Commerce Limited on their third funding round, securing investment from its existing shareholders 3i, T-Mobile Venture Fund and Thomson Directories.

Mobile Commerce is the UK's leading provider of location-based services. Customers include leading wireless network operators/portals Vodafone, 02, T-Mobile and Orange; also media owners, content owners and any organisation seeking to provide value-added location-based information to their customers and employees.

Services are network and handset independant and can be accessed via voice, WAP or SMS. The company uses a range of tools to identify the caller's location and then employs extensive databases, sophisticated search mechanisms and state-of-the-art mapping technology to provide accurate and relevant information about services available in the caller's current or intended location.

The Deal:

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Equinox Converged Solutions

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Deal Release:

Equinox Converged Solutions

25 May 2004

Equinox Converged Solutions Ltd has secured £11m investment from Apax Partners.

Equinox provides the public and education sectors in London with high capacity broadband connections and a wide range of managed services, including local area and wide area networking, internet services, enhanced managed telephony and unified messaging.

In partnership with the London Grid for Learning, a consortium of all 33 London Borough Local Education Authorities, Equinox has designed and built one of the world's largest Ethernet Metropolitan Area Networks to serve Londons schools. Over 1,500 schools are already connected to the network at speeds of up to 100MB per second, with around 100 schools being added every month. Customers also include 9 London Borough Councils, more than 50 libraries, independent schools and other educational and public sector establishments.

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EVE Fundraising

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Deal Release:

EVE Fundraising

06 Mar 2004

EVE offers industry-proven emulation technology used by major semiconductor and electronic systems companies worldwide. EVE emulation systems deliver the highest performance and capacity, a broad portfolio of transactors, and the lowest price per gate.

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JobPartners

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Deal Release:

JobPartners

25 Dec 2003

ACE, Gilde, I-Source, Partech and VPSA invest $27 million in Jobpartners.

Jobpartners provides software as a service products for talent relationship management.

The London-based company’s services cover recruitment, internal mobility, performance management, executives and key people management, in addition to succession planning, career management and compensation management.Jobpartners, which was established in 2000, now has 120 employees across nine European offices. Companies on its client list include Carrefour, Nike, Rabobank, Sodexo and Xerox.Funding will be used to accelerate the business’s continued growth, and for development of additional relationship management products.

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Digiquant sold to Intec

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Deal Release:

Digiquant sold to Intec

25 Nov 2003

Intec Telecom Systems, a leading provider of telecom Operations Support Systems (OSS), acquires Digiquant A/S of Denmark, a global supplier of OSS/BSS (Business Support Systems) software for next-generation communications, content and data services.

“Acquiring Digiquant is a very exciting step for Intec,” said Chief Executive Kevin Adams. “As well as a solid contribution to our business growth we intend that Digiquant will substantially expand our technical capabilities into important new markets. Adding the very broad capabilities of IMS to products like the Intec Dynamic Charging Platform and Inter-contenT will allow us to offer customers the most complete, end-to-end OSS/BSS solution for advanced services, including content, next-generation wireless, VoIP, broadband, enterprise IP, and 3G.”

Digiquant brings to Intec strong synergies with its client base and product offering. More than 50 service providers use Digiquant’s award-winning IMS product line worldwide, including Telefonica, Telecom Italia, Tiscali, Telekom Malaysia, iBasis, and Omnitel Vodafone. IMS allows carriers, service providers, businesses and other users of data networks to manage and bill for advanced, next-generation services. Intec believes that the capabilities of the Digiquant OSS/BSS product set are highly complementary to its own OSS products, which address key operational requirements for large telecom operators in both traditional and next-generation markets.

“We are very pleased to have enhanced the future of the Digiquant business and product line by becoming part of a successful, global OSS company like Intec,” said Digiquant founder and CTO, Hasse Rasmussen. “Combining Digiquant’s technology and Intec’s global distribution capabilities opens many doors for both companies, as well as allowing Digiquant customers to be fully confident in the future of the product set.”

Digiquant’s OSS/BSS product set allows carriers and other businesses to manage numerous functions, including service activation, authentication, mediation, rating, billing, customer care and partner management. The product is used within a wide range of organisations, including GSM operators, major ISPs and broadband providers, traditional and VoIP carriers, and end-user companies.

IMS meets the demands that modern, complex communications services place on an OSS/BSS environment with an architecture designed to offer carrier-grade scalability for the largest and most sophisticated providers. IMS incorporates a unique Service Framework concept that encapsulates within the Framework's core management layer those requirements universal to all services. By implementing a Service Framework operators use one service management system with a centralised database to streamline subscriber management across any number of services. In addition to supporting multiple services from the framework core, IMS also supports multiple business models, including pre-paid, post-paid, retail, wholesale and revenue sharing.

The consideration for the entire Digiquant group will be satisfied through the issue of approximately 15.96 million new Intec shares worth €9.545 million (£6.7 million) plus the repayment of €1 million (£0.7 million) of outstanding loans. Digiquant, which reported revenues of around €16 million in 2002, currently employs 128 professionals in its operations in Roskilde (Denmark), Atlanta, Rome, Singapore and the UK, plus a number of international sales offices.

Digiquant’s IMS product line, combined with Intec’s own market-leading mediation, activation, content management and settlement products, will allow Intec to offer its customers unmatched capabilities for growing revenues from advanced communications services.

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Forvus sold to RM Plc

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Deal Release:

Forvus sold to RM Plc

25 Oct 2003

ICON negotiated a cash exit for Forvus to leading IT Services company RM Plc.

Forvus is a data management and statistical analysis company primarily serving the public sector. Major clients include the Department of Education and Skills and the Teacher Training Agency.

The acquisition is a further development of RM's education services strategy.

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Cleartone Telecoms Plc MBI

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Deal Release:

Cleartone Telecoms Plc MBI

25 Sep 2003

ICON advised shareholders including 3i Group Plc on the sale of Cleartone Telecoms Plc to a management buy in team led by Richard Hill.

Established in 1976, Cleartone Telecoms, based in Pontypool, South Wales, is a leading designer, manufacturer and supplier of radio communication products for the emergency services. Police Forces in the UK are currently replacing their existing analogue radios with new TETRA digital mobile radios and most Forces have chosen Cleartone as their preferred supplier.

The consideration was not disclosed but was primarily financed by HBOs, who also provided working capital facilities for the new owners.

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LogicScope Realisation MBO Funding

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Deal Release:

LogicScope Realisation MBO Funding

25 Aug 2003

ICON secure funding for MBO/MBI of messaging and integration software business.

LogicScope is one of the UK's leading providers of messaging and systems integration software to wholesale financial markets. It's messaging product is deployed in more than 250 banks globally, and their clients include the world's largest foreign exchange brokers. The deal was financed by debt finance from HSBC Specialised Finance. Funds will be used to expand the company's sales and marketing operations together with an increased working capital facility to accommodate the growth of the business.

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Index Oil and Gas Private Placing

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Deal Release:

Index Oil and Gas Private Placing

25 Jul 2003

ICON has successfully completed a private placing for Index Oil & Gas, a start up exploration and production (E&P) company. The placing was over subscribed

The initial funding will enable Index to complete its initial strategy to establish an early production base and to identify, evaluate and negotiate the purchase of existing oil and gas assets with upside potential.

Index is seeking to close a further round of finance in 2003 to enable it to roll out their oil and gas acquisition programme.

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Intamission

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Deal Release:

Intamission

25 Nov 2002

IntaMission successfully completed the draw-down of the second tranche of $3.1m of its 1st institutional funding round totalling $6.2m.

The investment was led by 3i's London Technology Team with additional funding provided by EonTech Ventures.

IntaMission is a next generation middleware company whose Autevo product massively reduces the complexity of systems enabling them to be self-healing and flexible and resulting in dramatic reduction of the TCO.

The funding will be used to strengthen the sales and marketing operations following the announcement of their first major contract with Vodafone.

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Imparo Group

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Deal Release:

Imparo Group

25 Oct 2002

ICON advised the management of Imparo on their first funding round.

The company lead the way in high quality, interactive and multi-active educational products. Imparo produces two core products: Freedom2 - a range of intelligent internet management servers for schools and The Big Bus - fun, interactive educational content for 3-11 year olds available on CD or via the web. Major customers include schools and home consumer markets.

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MDS Technologies MBO Funding

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Deal Release:

MDS Technologies MBO Funding

25 Sep 2002

MDS Technologies MBO from CDS Ltd

ICON have advised the management on the successful acquisition of MDS Technologies. The buyout team successfully completed the MBO of MDS Technologies which represents the Data Warehousing business of the former CDS Limited. MDS specialises in managed services for internet hosting and connectivity. The company is the market leader in the integration of applications into the mobile carrier networks, hosting what is expected to be the first Mobile Internet Exchange.

The management aim to significantly expand the business within its market sectors over the next three years and major customers already include Vodafone, Ericsson, Securicor, Guy's Hospital and e-government Pathfinder projects. The business is located on the Corsham Media Park, Bath, UK.

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Greenoak Marketing Group

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Deal Release:

Greenoak Marketing Group

25 Aug 2002

Marketing group Greenoak attract £550k development capital.

Greenoak provides marketing as well as business and technical development services to a UK wide network of independently owned IFA firms brought together under one new national brand. Marketing and corporate branding, compliance and IT will form the core service offering.

The funds raised will allow Greenoak to invest in infrastructure and to develop a national marketing campaign, targeting existing IFA practices to join it's ranks. Greenoak offers equity participation and quality assured services hitherto unavailable to its members.

Greenoak will be seeking an Exchange Listing at the earliest opportunity.

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Dan Network Solutions MBO Funding

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Deal Release:

Dan Network Solutions MBO Funding

25 Sep 2001

Software and Communications Company Dan Network Solutions receives £1.4m to fund an MBO from parent company Dan Technology Holdings Plc.

Dan Network Solutions Ltd (DNS) is one of the UK's leading network services companies and focuses specifically on the SME market. Key activities include networking solutions, comprising voice and data cabling, installation, support and maintenance, the company also develops comprehensive management software for the SME and education sectors.

Dan has won numerous awards for excellence, quality, reliability,performance, and customer service.

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Hawk-Eye Technology

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Hawk-Eye Technology

25 Apr 2001

Pioneering technology company Hawk-Eye receives £500k seed funding from the ICON Technology Channel, the technology known as DatAcq represents a major advance in collecting positional information.

The information is gathered quickly enough to automatically point broadcast cameras at sports stars giving close up action shots which have hitherto been impossible to achieve, even by the world’s best cameramen. This data also allows performance information to be shown instantly or used in training programmes or computer games providing movements that can “replicate” a game in graphic format. Hawk-Eye DatAcq has attracted significant interest from leading broadcast and TV networks as well as other commercial applications.

The funding secured by ICON will be used to invest in infrastructure and to finance the delivery of pre-production prototypes to its first distributer in the UK and USA.

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Advisor Technologies

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Advisor Technologies

25 Nov 2000

ICON co represented Advisor Technologies, the leading security architecture management company in it's first round fund raising of $2 million. Advisor Technologies (ATL) is an innovative European company founded in 1999 to address the relatively new area of security architecture management (SAM) within the Internet security arena, with particular focus on Real-Time Security Attack Detection.

Major partnerships already include all the leading security vendors such as: Cisco, Checkpoint, IBM, and RSA Security.

The funding will be used to enhance product functionality, introduce new products and expand the sales and marketing activity into mainland Europe and the United States.

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Firststake Plc

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Firststake Plc

25 Oct 2000

ICON has secured £555k interim funding for Firststake Plc to enable the business to build upon the recent launch of its online sports betting service.

The company established its Internet business, firststake.com, after listing on OFEX in November 1999. The site offers online sports betting facilities with up to the minute sports news service and has achieved impressive initial results since its launch in June this year - generating £1 million turnover and 2000 customers in just 14 weeks.

The company has global growth plans and is currently looking at expansion opportunites by way of both acquisition and joint venture.

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Floot investment from BSkyB, Sony & Warner Music

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Floot investment from BSkyB, Sony & Warner Music

25 Sep 2000

ICON acting for Floot.com secure investment from Music Choice Europe Ltd, a joint venture between BSkyB, Sony and Warner Music. This is Floot.coms, second major strategic partnership, following the deal with Freeserve announced earlier in the year.

Floot.com, will be selling downloads and physical CDs of a wide range of musical styles and genres from all around the world.

The deal with Music Choice enables Floot to market its artists to Music Choice’s 4.5million subscriber in over 24 countries.

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Capital Track

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Capital Track

25 Aug 2000

ICON secure seed funding for Capitaltrack.com.

Capitaltrack.com use an internet based electronic messaging system which links the participants involved in transactions, to International financial markets.

This system will also provide a database and archiving system enabling participants to access information required by them, which is currently difficult to access.

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Langdale Systems sold to NCP

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Langdale Systems sold to NCP

25 Jun 2000

ICON represented Langdale Systems, a leading provider of parking software solutions, in its sale to NCP.

NCP is the UK's largest private car park operator.

Langdale, established in 1985, is a UK company specialising in hand-held computing solutions and is a leading provider of IT solutions to the parking industry.

In 1986 Langdale was the first company to provide hand-held Excess Charge Ticketing computers and has remained at the forefront, constantly updating and developing parking management systems and equipment as new technologies and hardware emerge. Their pen based software "E Forms" is ideal for inputting and receiving data in field applications, removing the limitations of a keyboard and allowing the user to include sketches, voice and digital pictures to support the primary data.

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Deal Release:

OMD

25 May 2000

ICON secure £14.8m for Optical Micro Devices in its first funding round.

Optical Micro Devices is an optical component foundry providing opto-electronic components for use in equipment powering the internet and mobile communications. Optoelectronic components is the fastest growing part of the micro-electronics sector and world demand is soaring. OMD will be the first company in the UK to produce them on an eight inch wafer.

Major customers OMD hope to supply include Hewlett Packard and Lucent Technologies.Funding was provided by a syndicate of investors and will be used to establish OMD’s manufacturing operation.

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Black Cactus

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Black Cactus

25 Apr 2000

ICON negotiated the MBO and first round funding of £1m for games software company from Eidos.

Black Cactus is an interactive entertainment group of "super developers" that design and develop software that revolutionises the way computer games are developed. The company’s tool sets, cut the costs and development time that is needed to bring new games to market by using object orientated "soft architecture" made up of a set of development tools, some software utilities and 3D engine technology. Taken together these form a Windows interface which the games designer can use to develop games quickly with little need of a programmer. Better games, delivered cheaper, faster, and on time and with quality design.The software has an application for mobile communications, digital television, consoles, handheld devices and traditional computer platforms.

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IpTEST MBO Funding

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Deal Release:

IpTEST MBO Funding

25 Mar 2000

ICON secure £2m funding for global developer and manufacturer of semi - conductor testing equipment.

IpTest manufacture testing equipment for high volume production lines of discrete semiconductors. The company will use the funds to finance the MBO of their trade and assets from the LTX corporation, its US parent.

Major clients include some of the worlds largest manufacturers of discrete semiconductors including ST Microelectronics.

The Deal:

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CDC Solutions

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Deal Release:

CDC Solutions

25 Feb 2000

ICON secures £2m second round funding for leading software company CDC Solutions Ltd.

Established 3 years ago as Computerised Document Control, the company designs develops and sells advanced document publishing software products which enable the assembly, dissemination and distribution of critical business documents.

The software solutions deliver enormous cost-effective time saving opportunities.Major customers are in the pharmaceuticals, finance and utilities markets.

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Deal Release:

Go-Help

25 Jan 2000

ICON secures £1m first round funding for Go-Help, the high quality shopping portal.

On line shoppers can earn money for schools, churches or youth clubs of their choice by buying CDs, books and other goods through the portal.

The shopper does not pay any extra for goods, however, the retailer passes on a percentage of each transaction to the nominated school or charity.

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MCA Holdings sold to e-Xentric Plc

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Deal Release:

MCA Holdings sold to e-Xentric Plc

24 Jan 2000

ICON represented MCA Holdings, a leading provider of marketing solutions in its £11.3m (at announcement) sale to e-Xentric Plc.

MCA provide both on-line and traditional off-line marketing solutions to an impressive range of fast growing e-commerce and blue chip clients. Its core services are a mix of in-depth technical and creative and include: branding strategy, design, marketing services, web site design, web application development, web hosting and helpdesk management.

Major clients include: Associated Newspapers, Samsung, Murray Johnstone, Bass, The Environment Agency, Apple, Anglian Water, as well as a number of fast growth e-business companies, including significant work for a major listed dotcom.

The Deal:

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HelpDesk Support Services sold to Quantica

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HelpDesk Support Services sold to Quantica

23 Jan 2000

ICON represented Helpdesk Support Services, a leading IT recruitment agency, in its sale to Quantica Plc.

Helpdesk Support Services ('HDSS') is a leading provider of contract and permanent professional IT staff to blue chip clients throughout the UK. They have offices in the M4 corridor and in Manchester.

Major clients include: Ericsson, PriceWaterhouseCoopers, Octel, Unilever and Digital. Others include BAA, BAT, Cable and Wireless, Friends Provident, Glaxo, ICL, IBJ, Morgan Stanley, Orange and WS Atkins.

The acquisition further strengthens Quantica's position in the crucial technology recruitment marketplace.

The Deal:

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CenturyCom sold to Diagonal

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Deal Release:

CenturyCom sold to Diagonal

21 Jan 2000

ICON represented CenturyCom, a leading provider of network and e-business security solutions, in its sale to Diagonal Plc.

CenturyCom is a very fast growing IT network security solutions provider that is consultancy led. Despite being just over two years old they have established a leading position in a market that is growing at more than 50% a year. Their team of security consultants supply, install and manage a full range of security solutions by sourcing best of breed products from Silicon Valley that restrict network access, provide encryption, intrusion dtection and security auditing.

Major clients include: JP Morgan, Cap Gemini, Lloyds Bank, British Airways, HSBC and Schroders.

The acquisition represents the latest step in Diagonal's drive to create a new group of computer consultancies.

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Cymap sold to Graphisoft

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Deal Release:

Cymap sold to Graphisoft

20 Jan 2000

ICON represented award winning software company, Cymap, in its sale to Graphisoft NV.

Cymap design software for building services design, to meet UK and international standards. CADLink, is Cymap's flagship product, which offers comprehensive capabilities spanning both HVAC and electrical design with three dimensional imagery.

As part of Graphisoft, Cymap will be able to exploit global markets for their products.

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Floot secures Freeserve investment

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Deal Release:

Floot secures Freeserve investment

19 Jan 2000

ICON acting for Floot.com secure investment from Freeserve.

Floot.com, will be selling downloads and physical CDs of a wide range of musical styles and genres from all around the world.The deal with Music Choice enables Floot to market its artists to Music Choice’s 4.5million subscriber in over 24 countries.

The Deal: