Leicester software firm sold for £2.4m

Leicestershire-based software firm ICON has been sold to London-based Elecosoft for £2.4m.

ICON, based in Market Harborough, is a leading Software as a Service (“SaaS”) provider of building information and related data management and storage systems, principally to the UK retail sector.

Teams at Spearing Waite and Mazars in Leicester advised the shareholders on the sale.

Commenting on the sale, the shareholders said: “we would like to thank the teams at Spearing Waite and Mazars for the exceptional service and professionalism we encountered throughout. The sale would not have been possible had it not been for the tremendous effort from everyone involved”.

Corporate partner, Steve McElhone who led the team at Spearing Waite, said: “ICON is a great example of the strength and dynamism of owner-managed businesses in our region, and this transaction shows how well regarded these businesses are in the wider economy.”

Pete Wood, senior manager at Mazars, said: “It has been a real pleasure to lead the delivery of this transaction for the shareholders of ICON. The company is renowned for its technical excellence and innovation; and there is a great deal of synergy between ICON and Elecosoft plc, which I firmly believe will significantly accelerate future growth. I am convinced that the partnership will be an extremely successful one. It will provide ICON’s clients with access to an enhanced portfolio of products and ICON employees with a whole host of new opportunities within the group’s businesses.”