Prism Advise on Sale of Bespoke Software Developer
We are pleased to announce that the Prism Team have advised on the sale of Exbos Ltd, a bespoke software developer, to Hemingways Group, a gifting, e-commerce and distribution specialist.
Exbos Ltd, based in Bradford, is a bespoke software developer producing integrated web, desktop, tablet and mobile apps. They specialise in scalable, fit for purpose, software designed around the needs of their clients.
Hemingways Group, based in Yorkshire, serves over 7,000 clients across 14 countries, promoting and selling their products to consumer and corporate markets through dedicated e-commerce solutions, managed software platforms, sales, warehousing, assembly and distribution. Under its Voucher Express brand, Hemingways trades with many of the leading UK and international retailers providing technology platforms for pre-paid products such as gift cards and eGifts.
Exbos was a key software partner for Hemingways having produced many of the company’s solutions. This strategic acquisition allows Hemingways greater access to Exbos’s technical services as well as the ownership of underlying intellectual property. Exbos will retain all directors, members of staff, operating name and premises in Bradford.
Prism Corporate Broking (Prism) is a specialist M&A advisory that has been helping owner-managers to buy and sell businesses for over 20 years. The Prism team are experts in the tech sector including B2B software and IT services. Prism advised Exbos’s three shareholders throughout the sale process.
Lee Hesselden, Technical Director of Exbos, said “We are excited by the acquisition and proud to have the opportunity to add our engineering expertise to the wealth of knowledge already within the team there.”
Angela Donnelly, Director of Exbos, said “Prism played a major role in the sale and I don’t think we could have achieved it without their expertise. They’ve been a delight to work with and we’re very grateful for their support.”
Managing Director at Hemingways, Andrew Johnson, said “Exbos has been a trusted partner for over ten years. Adding them to the Hemingways Group strengthens our supply line, and places us in the best possible position to adapt to the challenges and opportunities that come with advancements in AI technology.”
Peter Watson, Managing Director of Prism, said “It’s been a smooth process undertaken over a tight timeline and I’m delighted to have helped Exbos’s owners reach a successful completion. Both businesses should benefit greatly from the new relationship.”
Sell-side legal advice was provided to Exbos by Broadfield Law UK LLP. The buy-side was supported by advisors Amstrong Watson and Clarion solicitors.
Find out more about our business sale service here: www.prismcorporatebroking.com/sell-your-business
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