Tech consolidation the flavour of the month
Our weekly free round up of key deals and major moves in the Rainmakers world
Hello Rainmakers,
A flurry of tech deals this week, where consolidation seems to be the driver.
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OmniCyber Security has acquired fellow UK-based cybersecurity firm Equilibrium, in a move aimed at expanding its technical capabilities and client offering.
Equilibrium, founded 13 years ago by Anish Chauhan, will be integrated into Birmingham-based OmniCyber’s operations, with both companies highlighting shared values around service quality and customer focus.
Bobbie Bhogal, Chairman of OmniCyber Security, said: “Equilibrium is exactly the kind of business we seek to acquire. Anish has built a phenomenal company with the same emphasis on quality and customer service that is the bedrock of OmniCyber Security. Our alignment on priorities is exceptionally strong, ensuring a smooth integration and a cohesive team moving forward. This is a powerful combination of talent and shared mission.”
The deal will see the two firms combine their services, with OmniCyber’s WRAITH adversary emulation platform set to complement Equilibrium’s Brand Monitoring Service.
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York-based Trustmarque and Ultima Business Solutions have announced plans to merge, creating one of the UK’s largest IT services providers with a projected Gross Invoiced Income of £1bn and more than 1,000 employees.
Together, they will support more than 3,000 customers across the UK and internationally – from FTSE 100 companies to central government.
The proposed merger will continue to be supported by the private equity firms One Equity Partners and Apse Capital.
Together, the combined businesses will provide a comprehensive portfolio of expert driven, end-to-end IT solutions and managed services with pioneering IP at the core.
It will count Microsoft, Cisco, IBM, Hitachi Vantara, HP, Palo Alto and Citrix in its top strategic vendors.
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Signum Solutions, a Daresbury-based software-based business management solutions specialist, has been sold to US company Vision33 in a transaction advised on by Bolton’s KBS Corporate.
Founded in 2003, Signum provides digital transformation services to growing companies.
Its core offering is SAP Business One, an ERP (enterprise resource planning) system which incorporates financial management, sales and customer relationship manager, and purchasing among its features.
The acquisition, for an undisclosed sum, reinforces the position of Vision33, a global ERP solutions leader headquartered in California, as a dominant SAP Business One partner in the UK market, further building on its strong local presence while expanding its resources.
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Inspecs has confirmed it has received two takeover approaches and a separate offer to buy part of the business.
The announcement from the Bath-headquartered, London Stock Exchange-listed group, which produces a broad range of predominantly mid-market and entry-level priced frames for spectacles, sunglasses and safety glasses, came after its share price shot up by 18.5% on Thursday.
The statement, released just after the market closed, said Inspecs’ board noted recent press speculation and confirmed that it had received two separate, unsolicited proposals.
These have come from H2 Equity Partners and a consortium made up of Risk Capital Partners and Ian Livingstone, the angel investor, UK video game industry veteran and co-founder of Games Workshop.
Inspecs, which has been hit hard by US tariffs recently, said each had set out non-binding possible cash offers “alongside the possibility of an alternative offer, including unlisted securities, to acquire the entire issued and to be issued share capital of Inspecs”.
Inspecs has received a proposal from Italian eyewear group Safilo on Tuesday to acquire Eschenbach, the German eyewear supplier it acquired in 2020 for €94.85m (£84.78m), and BoDe, the German spectacle frame distributor it took over for €1.76m (£1.51m) the following year.
Inspecs’ statement said there could be no certainty that an offer would be made and a further announcement would be made if and when appropriate.
The group’s interim results, posted last month, showed pre-tax profits down to £2.4m from £2.6m last time on revenue at £97.6m against £100.6m.
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Finally, a deal that hasn’t happened yet.
NCC hasn’t had any credible offers so far for its Escode which it admitted this week is still reviewing a range of options.
Regardless of the outcome of the Escode review, in a trading update NCC said it intends to commence a share buyback programme.
But the review of all strategic options could include potential offers for the entire company.
Next week it’s the return of the Rainmaker Awards to the East Midlands after a hugely successful first year in 2024.
The Rainmaker Awards will bring together the East Midlands deals community to celebrate the best deals and teams from the past 12 months, as voted for by the corporate finance community themselves in a one firm, one vote system.
The casual dress code will swap the traditional tuxedos and long speeches for an evening that focuses on recognising and celebrating the best work from the year.
The night will provide an opportunity to network with the leading individuals and firms in the region.
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