Birmingham corp fin firm advises on tech deal
Transcend Corporate, the Birmingham-based corporate finance adviser, has advised on the sale of Cloud Optics to Livingstone Technologies – business backed by global investment firm The Carlyle Group, for an undisclosed sum.
Transcend Corporate, led by partner Steve Bartlett, acted as lead adviser to the shareholders of Cloud Optics.
London-based Cloud Optics is a provider of cloud and software license and consulting services across mega-vendors including Microsoft, Oracle, IBM, SAP and Salesforce.
Harmeet Assi, founder and chief executive of Cloud Optics, said: “We are delighted to be joining the Livingstone Group, with our combined skill sets and portfolio we will have much greater breadth, depth and reach to deliver best in class end to end outcomes for our clients.”
Trevor Rolls, chairman, Livingstone Group, said: “The acquisition of Cloud Optics now enables us to deliver the best commercial outcomes from their cloud & software vendors, through our negotiation support services. These are truly exciting times for our business and our clients around the world”
Bartlett said: “We are delighted to have been able to help Harmeet, Ian and Jordy with this significant transaction for Cloud Optics. In building the business they targeted a growing and valuable market space within the software asset management sector, and developed a compelling proposition for their clients, utilising their unique skills and market relationships. This transaction is just recognition of the value they created in Cloud Optics.”
