Document management software firm acquired by listed group – Insider Media
Type in the area above to perform a search. Results will appear on the next page
For further information regarding Insider events, please use the contact details below:
T: 0161 907 9758
E: eventenquiry@newsco.com
In this edition of Insider we look at how our…
A provider of document management software and systems has been acquired by listed business Grafenia in a deal worth up to £2.5m.
Watermark Technologies was founded in 2003 by Tim Boggie and Stewart Spink, both of whom will remain on a part time consultancy basis for six months. Watermark currently has 11 employees.
The total consideration of up to £2.5m will be satisfied in cash.
An initial £1.5m to be paid on completion, together with deferred consideration of £1m to be paid on the first anniversary of completion.
James Hughes, a corporate development associate within Grafenia’s Software Circle team, has been appointed managing director of Watermark.
Gavin Cockerill, acting chief executive of Grafenia, said: “The acquisition of Watermark is yet another step toward growing our software nucleus. Maximising what Grafenia is good at, selling and supporting software systems that help businesses run better.”
Tim Boggie and Stewart Spink, joint founders of Watermark, added: “We had been planning for retirement and actively seeking a new owner for the business we have built and cherished over 20 years.
“We believe Grafenia is the perfect home to provide continuity of support and maintain long term customer relationships developed over many years. We look forward to seeing Watermark thrive in a larger group.”
Allenby Capital is Grafenia’s nominated adviser and broker.
View all National news View more National Deals news
Grafenia / Watermark Technologies /
Laurence Kilgannon, Digital News Editor
T: 0844 980 0187
E: laurence.kilgannon@newsco.com
Andy Slim, Managing Director, North
T: 0161 907 9729
E: andrew.slim@newsco.com
Next article: Mixed reaction to go-ahead for coal mine
Previous article: ITI appointed to support Dounreay decommissioning project
T: 0161 907 9711
© Newsco Insider Limited | Registered in England and Wales with Number 02709518 rights reserved
Sitemap | Terms & Conditions | Privacy Policy & Cookies
