LONDON, Dec. 8, 2020 /PRNewswire/ -- Leading cloud services provider to the public sector, Arcus Global Ltd, today announces the sale of its wholly-owned subsidiary, Arcus Cloud Services Ltd (ACS), to leading UK-based managed service provider, Timico Ltd.
The sale enables Arcus Global to concentrate on the accelerated growth of its platform-based suite of SaaS applications for Local and Central Government.
Proceeds from the sale will be invested in SaaS solutions R&D, software engineering and customer success programs. Ensuring Arcus Global remains at the forefront of GovTech solutions delivery, shaping public sector transformation. Our mission is to support organisations moving from 'doing digital' to 'being digital'.
Nick Howes, CEO of Arcus Global said: "With the recent investment into key personnel supporting the Arcus journey, the additional funds will allow us to drive further growth. We will extend our Government Platform, introducing new levels of automation and efficiency, providing more services and solutions that deliver the outcomes required by the public sector in a post-COVID, post-Brexit world."
Timico CEO, Neil Muller, commented, "This acquisition marks an exciting development in the continued evolution of our business and further strengthens the growing portfolio of our digital infrastructure services and solutions. The highly talented Arcus Cloud Services team has an excellent pedigree as an established and trusted AWS partner, and we are delighted to be adding their knowledge and professional capability to the Timico Group."
Timothy Buckeridge of RPL Mergers, also commented. "We have worked with the team at Arcus for some time and this sale was a great opportunity not only to give the AWS division the right environment to develop further but also to provide Arcus Global with additional capital with which to continue to expand its core SaaS business."
Arcus Global Ltd was advised by RPL Mergers (Corporate Finance) and Mishcon De Reya (Legal) on this transaction.
SOURCE RPL Mergers