Beringea divests Speed Trap Holdings for £7.5m

Speed Trap Holdings is the parent company of Celebrus Technologies. The sale is expected to earn Beringea's ProVen venture capital trusts a 2x return on their investments.

The sale is being financed partly in cash and partly by the issuance of shares in IS Solutions.

Based in Middlesex, IS Solutions integrates multi-channel data sources into big data analytics applications. It has worked with Celebrus for 15 years.

Previous funding
Beringea participated in a £2m funding round in STH in 2010, using capital from its ProVen VCT and ProVen Growth and Income VCT. IS Solutions also took part in the round.

Company
Previously based in Newbury, STH has developed software that enables organisations to analyse customer interactions with websites, mobile apps and social media channels. Its 25,000 global customers include banks, retailers and insurance companies. The company was founded in 1999.

People
Trevor Hope is chief investment officer at Beringea. Geoff Shingles is CEO of STH. John Lythall is managing director at IS Solutions.

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