FutureGov acquired for an initial consideration of £11.9m

Date

June 2019

Sectors

Technology and consulting services

Deal Type

Merger/Acquisition

Our Role

Buy side

About FutureGov

FutureGov has been changing public sector organisations through digital transformation and service design since 2008. The company reforms health and public services by supporting organisations through the delivery of the highest quality, citizen-centred services that have a lasting impact for all. FutureGov generated revenues of £6.4m, an EBITDA of £1.52m and a pre-tax profit of £1.45m in the year to 31 December 2018.

About TPXimpact Holdings

TPXimpact is a world-class creative technology group, assembled for innovation. Configured as a lean, fluid and ego-free family of complementary tech-focused companies, they collaborate with brave organisations to ensure their participation in tomorrow, and beyond. TPXimpact floated on the AIM index of the London Stock Exchange in December 2018, creating a group of digitally-native technology services companies assembled to meet the needs of the fourth industrial revolution.

About the deal

This deal represents the third acquisition since The Panoply listed on AIM earlier in the year. The Group acquired FutureGov for £21m with an initial consideration of £11.9m paid in a mix of shares and cash. FutureGov’s chief executive Dominic Campbell will take on a group-wide role of managing director, public sector and health.

Our work

We acted as exclusive financial adviser to The Panoply on their acquisition of FutureGov.

It is a pleasure to have WY Partners as our key buy-side M&A advisor. WY's market knowledge and support is invaluable, they show great commitment and enthusiasm to always deliver the best outcome. WY provide us with clear commercial advice, added value, and manage the process from start to finish. Their personal and pragmatic approach is always appreciated and they consistently overdeliver.

Oliver Rigby

CFO

The Panoply Group

Deal team