FutureGov acquired for an initial consideration of £11.9m
ABOUT THE PANOPLY GROUP
The Panoply 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. The Panoply 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.
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 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.
We acted as exclusive financial adviser to The Panoply on their acquisition of FutureGov.