MML sells Altius to Avanade

The acquisition is expected to provide the acquirer with additional expertise in data platforms, managed services and data visualisation capabilities, while Altius plans to benefit from Avanade's enterprise performance management capabilities.

Avanade recently acquired Germany-based Alnamic, a provider of Microsoft-based business transformation services.

MML declined to comment.

Previous funding
MML acquired a minority stake in Altius in March 2019. At the time, the firm was investing from its MML Capital Partners VI vehicle, which closed on €438m in March 2016.

Company
Headquartered in London with offices in the Netherlands and India, Altius is a data management company that employs more than 300 people. Founded in 1993, the company reported sales of £24.5m in 2018, up from £14.2m in 2017. Operating profit increased from £1.7m in 2017 to £3.3m in 2018.

People
MML Capital Partners – Luke Jones (partner); Amar Shanghavi (investment manager); Will Stewart (associate).
Avanade UK & Ireland – Andy Gillett (general manager).
Altius – Simon Goldsmith (CEO).

Advisers
Vendor – Raymond James, Laura Maddison (corporate finance); Pinsent Masons, Ed Stead (legal); EY, Ben Collins (financial due diligence).

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• Topics
• Exits
• UK / Ireland
• Technology
• United Kingdom
• MML Capital Partners
• Trade sale
• EY (Ernst & Young)
• Pinsent Masons