A Lutterworth-based office education and support tools firm has been acquired by an international software vendor.
Combined Knowledge, which was founded in 2003, has been snapped up by AvePoint EduTech, a software-as-a-service specialist.
Combined Knowledge uses training software to support the needs of employers for fluency across the Microsoft 365 package in and away from the office.
Steve Smith, director and founder of Combined Knowledge, said: “To date, we have upskilled more than one million people through the provision of engaging learning and support tools developed and delivered through training by Microsoft experts.
“We had reached a point of sale with the business to ensure that it could secure additional investment that would enable it to continue scaling up. We’re tremendously excited to join the AvePoint family to bolster its EduTech division, which we felt strongly aligned with our mission and purpose to deliver outstanding workplace software training provisions.”
Accountancy firm UHY Hacker Young supported the business on the transaction.
Partner James Simmonds said: “We developed a fantastic long-term partnership with the team at Combined Knowledge that enabled the business to be optimally positioned as an attractive investment for acquisition.
“From the outset of the client looking to sell, we have ensured the process has been thoroughly planned and diligently executed, which helped to make the acquisition seamless over a three-week period.”
Completion of the legal side of the transaction was led by Rik Pancholi, managing director at Pattersons Commercial Law, and his team. He was supported by Elliot Vilders, member at Dickinson Wright in Michigan, who assisted with the US side of this cross-border transaction.
Rik Pancholi, managing director at Pattersons Commercial Law, added: “It was great working with James at UHY Hacker Young and Steve Smith to help Steve realise his ambition of exiting from the business he has nurtured and developed over the years. It’s going to be quite an exciting journey watching the next phase of growth for Steve and Combined Knowledge.
“As a Leicester-based law firm which is in the process of setting up a second office in Nottingham, at Pattersons Commercial Law we are well-placed to advise owner-managed businesses across the East Midlands.”