Transcend advises on the sale of two10degrees Limited

The Technology team at Transcend Corporate, which is led by Steve Bartlett, has advised the shareholders on the sale of two10degrees Limited (“two10degrees”).

Ian Aldridge and Matthew Imison at Transcend Corporate led and negotiated the sale to Australian based international, Nova Group, for an undisclosed sum.  Transcend Corporate acted as lead adviser; Birketts LLP, led by partner Mark Gipson, acted as legal adviser; and David Thomas of Spencer Gardner Dickins acted as tax adviser to the shareholders of two10degrees.

Based in Ipswich, two10degrees 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, two10degrees also provides bespoke software solutions from design, and through development, delivery, and testing to ongoing support.

Commenting on the transaction, Richard Prodger and Ken Lawrence, the vendors, said “We are delighted that two10degrees 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.”

Richard and Ken also paid tribute to Transcend Corporate saying “We are delighted to have worked with Ian and his team on this project.  Transcend Corporate has proved to be an excellent adviser, assisting us in negotiating the right deal, and guiding us through a complex process to a successful completion.”

Ian Aldridge, partner at Transcend Corporate, said “We are proud to have been able to help Richard and Ken achieve this successful sale of two10degrees.  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 two10degrees for a number of years.  The company is a great fit with the Nova Group, and we are excited by the new opportunities for our combined businesses.”