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

Comprehensive Data Centre Solutions
UK Wide

Company offers data centre solutions such as design,implementation and ongoing maintenance for public and private sectors. Works with circa 380 active clients, 70% of whom provide repeat and reliable custom. Offers invited.

Asking Price: Offers Invited
Turnover: £6,400,000

LEASEHOLD


SaaS Provider of DMS Solutions
North of England, UK Wide

Develops and supplies innovative DMS solutions to the financial,insurance and medical sectors.Maintains a position at the forefront of technology, offering a selection of office and cloud-based solutions.Premiered a HTML5 DMS solution. Offers invited...

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

LEASEHOLD


Major Infrastructure Projects Multi-Disciplinary Design Consultancy
UK Wide

Provides design consultancy services, specialising in major infrastructure projects in the rail, built environment and energy sectors.Operates internationally, catering to major blue-chip clients, 95% of whom provide regular, repeat business on an on...

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

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