UNQUOTE

Bestport generates 2.8x on Dot Net sale

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Bestport Ventures has sold Vega Technologies, the parent company of UK-based cloud platform Dot Net Solutions, to US-based New Signature, generating a 2.8x return and a 50% IRR.

New Signature is a US-based provider of Microsoft-associated services, backed by Columbia Capital.

Bestport backed Vega in July 2013, investing an undisclosed sum. Since then, Vega's revenues have tripled and staff numbers have grown fivefold.

Company
Vega's key brand, Dot Net, operates a managed cloud platform for businesses wanting to outsource IT services. It provides offerings across the Microsoft Azure, Office 365 and EMS products, which are supported by its 24/7 support services team.

The company was founded in 2013 and is based in London.

People
Vega Technologies – Paul Cosgrave (CEO); Sharon Baylay (chair).
Bestport Ventures – James Stoddart (managing partner).

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