Tech firm Ve Interactive acquired for £2m
Purchase follows a recent management buy-out led by Rowchester Limited to ensure the UK tech business was "protected for the future"
Having been bought out of administration last month following a management buy-out, Ve Interactive has been acquired by its new management for £2m.
Based in London and established in 2009, Ve Interactive helps digital businesses acquire, engage and convert customers and claims to serve around 10,000 e-commerce clients worldwide, including Confused.com and The Times, with offices in 37 global locations.
The company employs over 850 staff and purports to being one of the country’s biggest digital exports with more than 72% of its revenue generated outside of the UK.
Previously thought to be worth at least £1bn – a valuation that had seen it gain ‘unicorn’ status – Ve has been acquired by Rowchester Limited, the consortium which led the buy-out, and includes the firm’s new CEO Martin Tonnesen and COO David Marrinan-Hayes.
Discussing its recent buy-out, a spokesman for Ve Interactive said: “The interim management team has successfully bought Ve Interactive out of administration which means the UK tech business is protected for the future.
“The acquisition of Ve Interactive allows the group to safeguard hundreds of jobs, continue to develop its award-winning technology and grow its global market share.”
CEO Morten Tonnesen continued: “I am very excited to be leading the next chapter in Ve Interactive’s story. The business has long been at the forefront of the industry and we now have the investment and backing to continue to build out our market-leading technologies.”