Fri, 15 Apr 2022 | BUSINESS SALE
The takeover of multi-cloud firm UKCloud by investment vehicle Hadston 2 Limited has been cleared for completion after receiving approval under the government’s National Security and Investment Act.
The National Security and Investment Act scrutinises certain types of transactions with potential national security implications or that take place in sectors designated as being strategically important to UK national security, in this instance the cloud sector.
The Secretary of State for Business, Energy and Industrial Strategy (BEIS) confirmed that the takeover of UKCloud has been approved, meaning that the target company can receive substantial investment from new owner Hadston 2 Limited.
Hadston 2 Limited is led by UKCloud Chairman Jeff Thomas, with the backing of institutional investors, including Digital Alpha and the Business Growth Fund (BGF). Investment from Hadston 2 Limited will strengthen UKCloud’s financial position, while enabling it to proceed with its strategic plan.
UKCloud is planning to expand its product portfolio, through enhancements of its services and platform, as well as investment in people. The company will also seek to deepen key strategic relationships, enabling the company to increase its focus on sovereign cloud services while securing closer partnerships with leaders in the global tech sector.
UKCloud CEO Simon Hansford commented: “UKCloud has an exciting and vibrant future, embracing a new strategic direction, engaging collaboratively with globally recognised technology companies to deliver first-class client solutions to our UK customers.”
“UKCloud will be making significant investments in its platform, services and people over the coming months following the approval of funding under the National Security & Investment Act."
Read more about the potential M&A implications of the National Security and Investment Act.
Find businesses for sale here.
If you are looking for an exit, we can help!
The company is an MSP that is committed to providing a streamlined, reliable solution for managing clients’ IT processes and infrastructure. The business is driven by its aim to advance clients’ productivity and improve operational security, having d...
An exciting opportunity to acquire a London-based audio technology business with a portfolio of coveted patents is now available.
An unparalleled chance to own a thriving Ag-Tech company with a robust market standing. The business is renowned for its pioneering role and leadership in the agricultural technology sector.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.