Windsor’s Spinnakar acquired in £10m US deal advised by Moore Barlow
Spinnakar, a Windsor-based data, security and cloud technology consultancy, has been acquired by US-based Wayside Technology Group.
The deal, which values the Berkshire firm at £9.8 million, was advised on by South East law firm Moore Barlow’s corporate team.
As an IT channel distributer, Spinnakar connects a network of cloud, security and data management vendors to end users, growing their customer base across the Europe, Middle East and African marketplace.
New Jersey-based Wayside Technology Group is valued at £113 million on NASDAQ. It has confirmed that Gerard Brophy, Spinnakar’s founder and CEO, will continue to lead the operation of the business as it integrates with existing Wayside business units Climb and Grey Matter.
Brophy said: “We are thrilled to join forces with the Climb Global Solutions and teams and look forward to scaling the integrated business across EMEA. Both organisations have very similar DNA with our focus on emerging technology products and services.
“As a new member of the team, I plan to further expand our line card through our combined expertise and shared vision of bringing new, innovative companies to market through our global network.”
“I would like to thank Jeremy, Gemma and the rest of the team at Moore Barlow who worked tirelessly to get the deal over the line.”
Read more - Bournemouth firm 4COM acquire Midshire Telecom on Moore Barlow advice
Jeremy Over, partner in the corporate team, led the Moore Barlow team advising on the deal which included Gemma L’Esperance (Trainee Solicitor, Corporate), Chelsea Feeney (Solicitor, Employment) and Quintin Farley (Solicitor, Commercial).
Jeremy said: “Spinnakar is another example of the abundant potential in the UK tech sector that is attracting big buyers from all over the globe. The acquisition by Wayside is the perfect marriage of Spinnakar’s proven track record in IT service distribution and the scale and investment potential of an international tech player.
“The UK tech scene is vibrant at the moment and that is reflected in a fast-moving adjoined M&A landscape. Whether it’s companies like Spinnaker with an established offering or the emerging vendors that are constantly evolving the sector, there is huge overseas appetite to invest in the UK’s tech entrepreneurs.”
The Spinnakar deal becomes the second acquisition of a UK tech firm by a US firm which Moore Barlow has advised on in less than a month, having supported the acquisition of Berkshire-based IT and cloud infrastructure consultancy Q Associates by Logicalis.
Read more - Berkshire’s Q Associates acquired by global tech firm