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 has created an innovative and intuitive online learning platform, featuring a diverse range of subjects, such as academic physical education, which is mainly purchased by UK-based secondary schools and overseas British-curriculum schools....
RELOCATABLE
The company is a SaaS developer offering a proprietary platform that is designed to enable the creation and scaling of internal mentoring, coaching and sponsorship programmes for employees, membership organisations and universities.
RELOCATABLE
Based in the North of England but serving a national corporate client base and with the benefit of international software this has since inception built a loyal base of over 400 channel partners to sell its telecoms software solutions.
LEASEHOLD
27
|
Jan
|
Administrators to sell assets as office furniture maker collapses | ADMINISTRATION
Bluespot Furniture, a West Yorkshire-based furniture manufac...
26
|
Jan
|
UK M&A down 16 per cent in 2022, but sentiment remains optimistic | BUSINESS NEWS
New analysis from PwC has revealed that UK M&A activity decl...
26
|
Jan
|
Private equity-backed law firm targeting further M&A in 2023 | BUSINESS NEWS
Stowe Family Law, a Leeds-headquartered specialist family la...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources