Technology services group swoops for business change specialist
Technology services group Panoply has acquired Birmingham-based Ameo Professional Services for £7m in cash and shares.
Ameo, which has offices at Colmore Gate in Birmingham, and Studley in Warwickshire, specialises in delivering business change, with a strong focus on the public sector.
The acquisition sum included around £2.2m cash and the issue of 5.9m Panoply shares.
HCR corporate lawyers, led by Tim Ward, supported Ameo’s acquisition by London-based Panoply, keeping the three founders within the wider business.
Ward , who also worked with Peter Raybould on the transaction, said: “This transaction goes far beyond its monetary value; this is about bringing together two complementary entities in such a way that the founders of Ameo can comfortably work with The Panoply in the longer-term.
“They share an ethos and a culture, and we have been very keen to ensure that that is fully supported by the deal itself.
“We have worked to a very strict deadline and the transaction is inherently fairly complex, but we are delighted to be able to help to take Ameo forward with The Panoply in this way.”