UKCloud acquisition approved by UK Government
Approval of UKCloud’s acquisition under the National Security and Investment Act clears the way for substantial new investment. This cements its position as a leading UK-based provider with a fresh strategic vision for sustainable digital transformation across the UK.
London – 13 April 2022 – UKCloud, the multi-cloud experts dedicated to digital transformation across the UK public sector, has now received approval for its acquisition by Hadston 2 under the National Security and Investment Act. The forensic scrutiny applied to the transaction is essential for maintaining the UK’s national security, and is especially important for UK-based leaders in strategic sectors like UKCloud. The confirmation of this approval by the Secretary of State for Business, Energy and Industrial Strategy means the substantial new investment can now be finalised, solidifying UKCloud’s role as a financially robust, innovative and market-leading technology company based in the United Kingdom.
The approval clears the way for completion of the previously announced acquisition by Hadston 2 Limited, an investment vehicle led by well-known entrepreneur and UKCloud Chairman, Jeff Thomas, and backed by existing institutional investors including BGF and Digital Alpha. This significant investment will allow UKCloud to begin executing its strategic plan, while redoubling its commitment to the UK’s technology sector.
Approval of the new investment will pave the way for the expansion of UKCloud’s product portfolio, including significant enhancements in its platform and services, and investment in its people over the coming months. In particular, the company will concentrate on deepening its key strategic relationships, which will enhance its focus on sovereign cloud services, and will secure closer, exciting partnerships with world-leading tech companies. This will also support UKCloud’s ongoing commitment to provide sustainable high skill, high wage jobs to the benefit of the UK’s economy, society and environment.
Simon Hansford, CEO, UKCloud commented:
“UKCloud has an exciting and vibrant future, embracing a new strategic direction, engaging collaboratively with globally recognised technology companies to deliver first-class client solutions to our UK customers. UKCloud will be making significant investments in its platform, services and people over the coming months following the approval of funding under the National Security & Investment Act.”
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Notes to Editors
Media Contact
Toby Chapman: (07873 140131); toby.chapman@drdpartnership.com
Natasha Kennedy: (07787 404056); natasha.kennedy@drdpartnership.com
About Hadston 2 Limited
Hadston 2 is a newly created special purpose investment company controlled by Jeff Thomas. Its mission is to create a portfolio of enterprises centred around the sustainable and ethical use of data and digital infrastructure, through acquisitions, joint ventures and strategic partnerships.
About BGF
BGF was set up in 2011 and has invested over £2.5bn in more than 400 companies, making it the most active growth capital investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2020, Australia did the same, both based on BGF’s approach and funding model.
About Digital Alpha
Digital Alpha Advisors, LLC is an investment firm focused on digital infrastructure and services required by the digital economy, with a strategic collaboration agreement with Cisco Systems, Inc. As part of this agreement, Digital Alpha has preferred access to Cisco’s pipeline of commercial opportunities requiring equity financing. Digital Alpha believes that it is the first firm focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including smart cities, next generation broadband networks, and enterprise data management and communication solutions.
About UKCloud
UKCloud is the trusted multi-cloud provider to the UK public sector and provides true multi-cloud solutions that enable public sector organisations to achieve better outcomes.
- Doing the right thing. By delivering better services to citizens and better value for taxpayers, by reducing the time, costs, and risks of digital transformation
- Accelerating digitalisation with local multi-cloud experts. Our award-winning customer support is here to help our customers throughout their journey with us.
- Harnessing multiple cloud services. To help organisations use multi-cloud to address existing and legacy IT as well as cloud native applications.
- Uncompromising safety and integrity. As we believe the UKs public services are a national asset that needs protecting and nurturing.
Additional information about UKCloud can be found at www.ukcloud.com or by following us on Twitter at @ukcloudltd, while information about UKCloud Health can be found at www.ukcloudhealth.com or on Twitter at @ukcloudhealth and information about UKCloudX can be found at www.ukcloudX.com or on Twitter at @ukcloudx
Source: RealWire