Investcorp acquires Ubisense's SmartSpace for up to £35m

The transaction is the fifth investment made with capital drawn from Investcorp Technology Partners IV, which held a $400m final close in December 2018.

According to a statement, the business has generated a compound annual growth rate in revenues of 30% per year since 2015, reaching £10.8m in 2017.

Investcorp managing director Gilbert Kamieniecky and principal Julian Bennet will take a seat on the SmartSpace board of directors following the deal.

Company
Headquartered in Cambridge, SmartSpace is a developer of enterprise software and sensors that capture and analyse location data for physical objects. The platform is used in the transportation and inventory management of components used in complex manufacturing processes. It is employed across a number of segments including aerospace, commercial vehicles, passenger vehicles, general industry and transportation.

People
Investcorp Technology Partners – Gilbert Kamieniecky (managing director).
SmartSpace – Andy Ward (founder, chief technology officer).

Advisers
Equity – Arma Partners (corporate finance); Beecham (legal); Code & Co (IT due diligence); Deloitte (corporate finance); Proskauer Rose (legal); Roland Berger & Partners (commercial due diligence).

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