Business advisory firm Quantuma provided lead advisory services to the shareholder, Alex James, on the disposal of his shares in Purepoint to Ascent Software, an investee business of Horizon Capital.
Founded in 2011 and based in London, Purepoint has developed a range of innovative, custom-built software for the Internet of Things (IoT) market and is the leader in this space. Purepoint prides itself on being a solutions provider for the world’s most innovative organisations and it uses artificial intelligence to deliver on-demand enterprise software, consultancy as well as training.
The sale to Ascent takes new clients to the group such as Centrica Hive whilst also deepening the group’s expertise in the IoT market. Ascent is based in Reading and has grown to employ over 300 staff today who primarily develop software and serve clients across the UK and Europe and undertook its own investment from Horizon Capital in late 2019 together with the acquisition of TechHuddle in a £30m deal. Ascent is a compelling strategic partner for Purepoint with ambitious plans to grow organically and through subsequent complementary acquisitions. As part of the transaction, Alex James has become Chief Technical Officer of the enlarged group.
A team led by Partner Ian Barton and Director Adrian Howells provided advisory services to the disposal, from positioning Purepoint for sale to hands-on managing the process through to completion.
Ian Barton, Partner at Quantuma: “We are delighted to have supported Alex to achieve the disposal of Purepoint to Ascent who are building a group of niche software businesses. As a leader in its field, Purepoint has built its reputation as an integrator of voice recognition in the IoT space, and we wish the team and Alex, as the new CTO of Ascent well in their future growth plans.”
Alex James, founder of Purepoint and now CTO of Ascent : “The team at Quantuma were absolutely pivotal to the successful sale of Purepoint. Taking a business you’ve founded, grown and has been a big part of your life to market is a daunting experience. Then taking it over the line while still running the business is an even bigger challenge. I’m certain that without the support of Ian, Adrian and the rest of the team at Quantuma we wouldn’t have had such a successful outcome for everyone involved.
From understanding and building the proposition right through to supporting due diligence they were efficient, gave great confidence and were always available to help. If anyone ever asked me for advice in putting together a commercial transaction recommending Quantuma would be at the top of my list.”
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).