The Panoply adds Ameo to public sector bow
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.
Ameo is a consultancy specialising in delivering business change, with a strong focus on the public sector. It has been working with businesses for over 10 years seeking to deliver long-lasting, cost-effective change across a wide range of areas, from financial reporting and process design to digital innovation. Their ethos is to seek to work as a partner with its clients in order to develop sustainable solutions and improve the skills of its clients’ teams.
In the year to 30 October 2019, Ameo reported a revenue of £6.9m and pre-tax profits of £1m
ABOUT THE DEAL
The Panoply is buying Ameo for an effective purchase price of £7m to be satisfied through a combination of cash and shares, and the total consideration capped at £9.2m. Ameo will sit neatly alongside the capabilities embedded in two of The Panoply’s other public sector-focused acquisitions, Notbinary and FutureGov.
We acted as financial adviser to The Panoply on their acquisition of Ameo.