Birmingham corporate finance firm advises on technology deal

Birmingham-based corportae finance firm, Transcend has advised on the sale of a British technology business to an Australian group.

The technology team at Transcend, led by partner Ian Aldridge, with support from executive Rajbir Turna, was lead advisor on the deal, which has seen Ipswich-based Two10Degrees acquitred by Nova Group, for an undisclosed sum.

Two10 offers state-of-the-art, lone worker management solutions through its Global Alerting Platform, supporting a wide range of satellite and mobile devices, and allowing companies to meet their duty of care obligations by monitoring their employees around the globe. In addition, Two10 also provides bespoke software solutions from design, and through development, delivery, and testing to ongoing support.

Commenting on the transaction, vendors Richard Prodger and Ken Lawrence, said: “We are delighted that Two10 is joining Nova Group, which is an exciting and fast-growing group of companies delivering technology enabling solutions for the long term benefit of our clients.

“There is a substantial opportunity to accelerate our global growth as a member of the Nova Group.”

Mr Aldridge said: “We are proud to have been able to help Richard and Ken achieve this successful sale of Two10.  This is a great deal for all parties, and we wish the business and all of its employees every success as part of Nova Group.”

Greg Hume, CEO of Nova Group, said: “We have known and worked with Two10 for a number of years.  The company is a great fit with the Nova and we are excited by the new opportunities for our combined businesses.”

Birketts, led by partner Mark Gipson, acted as legal adviser, and David Thomas, of Spencer Gardner Dickins acted as tax adviser to the shareholders of Two10.

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