LDC backs Alderley Edge software firm
AN Alderley Edge-based software company founded by a pair of ex-Oracle executives has received investment from private equity firm LDC.
Kirona Group builds mobile applications used in the field force automation market – ie. tracking goods and people out in the field and connecting them to their offices. The value of the investment by LDC is undisclosed, but is understood to be worth between £5m-£10m.
Kirona Group was set up in 2003 by former Oracle executives David Murray and Neil Harvey. It employs 33 people, including 20 software developers.
Its software is compatible with all platforms developed for smartphones including Android, RIM, IOS and Windows.
The company also offers a mobile cloud platform that allows customers to store and access data securely off site. It offers its products through a channel of resellers including BT, Vodafone, and Northgate Information Solutions. It also has its own direct sales operation.
The firm will use the investment by LDC to target the SME market and to capitalise on recent client wins in Europe, New Zealand and Canada by pursuing international sales. Its software has also been developed into several languages.
Kirona’s managing director, David Murray, said: “Since inception, we have developed a fast-evolving, wholly owned, market-leading technology, which has driven significant efficiencies in both the public and private sectors, and allowed us to develop deep relationships with leading global reseller partners.
“Throughout the downturn, demand for our services has consistently expanded.”
He said the market had been driven by “the highly publicised evolution in smartphone technology and the increasing use and acceptance of employee-owned smartphones in the workplace.”
The former chairman of Computerland, Graham Gilbert, has been brought into the business as a non-executive chairman.
LDC investment director Jonathan Ball said: “Kirona benefits from positive market growth dynamics resulting from continued smartphone and hand-held technology growth and combined with developments in FFA mobile solutions which are taking employee productivity and efficiency to new levels.”
The deal is LDC’s third in the region this year, following on from investments in Entertainment Magpie and events company WRG.
Clearwater Corporate Finance introduced the deal to LDC. Law firm Gateley advised Kirona.
