Cambridge artificial intelligence / machine learning company bought by customer

Sun, 21 Apr 2019 | BUSINESS SALE



Early stage advanced data analysis company Rinocloud has been bought by Dublin-based healthtech company Integumen, one of its customers, for €3.5m.

Rinocloud was set up in 2015 to develop a range of algorithms for the dissemination of big data specifically from scientific sources.

The company adds extra context to data including parameters, metadata, and discussion, allowing scientists at client companies to deduce more insights and generate more results.

Integumen creates laboratory-grown human skin that provides cosmetics companies with an alternative to animal testing. They only began using Rinocloud in November 2018, but were immediately impressed with the team and the data analysis product. With the purchase, Integumen gets control of an AI machine learning platform, enabling them to accelerate the development of skincare, cosmetics, wound care, personal hygiene and pharmaceutical topical drug delivery products.

Rinocloud MD, Fionan Murray, said "Our product is all about automating labs and managing the data they generate; they [Integument] have labs in Britain and we started installing software for them. The relationship got closer and closer until, like dating, we realised we wanted to cohabit.”

He had been about to start the process for raising an "A" round investment of €1m to €2m. However, that process would have taken around a year and taken Murray out of the business for a significant time.

Selling to Inegumen was an easy decision - he was able to able to secure his personal financial situation, get access to capital, access customers and access to labs.

Murray becomes a director of Inegumen as part of the deal and his team all take up senior positions at the firm.

Anyone trying to figure out the price paid as a multiple of earnings or any other financial valuation method would have no luck. This was clearly about buying in a highly skilled team that worked well together (and with the buyer) on a product with valuable IP, which slotted in perfectly to the acquirer's business.


Share this article



Latest Businesses for Sale

Telecoms & IT Services Provider
London, UK

An opportunity to acquire a UK-based telecoms and IT multi-layered services provider delivering leading edge services to contracted telecoms partners. Successful model operating for over 17 years, in 3 different countries. Significant professional fr...

Asking Price: Offers Invited
Turnover: £2,700,000

Integrated Gas Chromatography Solutions
Aberdeenshire, Scotland, UK

Offers innovative solutions to optimise gas chromatography, including consultancy and training services, in addition to supplying condition-based monitoring software to clients in the upstream oil and gas sector. Operates from leasehold premises in S...

Asking Price: Offers Invited
Turnover: £733,000

LEASEHOLD


Microsoft Independent Software Vendor Partner
Midlands, UK Wide

Microsoft 365 ISV & Services Partner – Healthcare and Public Sector. An opportunity has arisen to purchase an established Microsoft Independent Software Vendor Partner (ISV) providing Software, ‘SaaS’ and Services for Microsoft 365 Information Manage...

Asking Price: Offers Invited
Turnover: £1,200,000


View more businesses for sale

News Search

Latest News

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

 
09
 
Jul
 

John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...

 
09
 
Jul
 

Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources