Electric Business

A brief summary of business news to keep you informed on company start-ups, corporate downsizing and mergers and acquisitions.

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Blue Prism buys Thoughtonomy

Automation specialist Blue Prism has bought Thoughtonomy, a provider of on-demand virtual workforce and AI solutions. Thoughtonomy’s products include ready-to-use chatbots and web-forms with integrated AI technologies such as computer vision, natural language processing (NLP) and machine learning.

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CGI acquires software firm SCISYS

Global IT services consultancy CGI added 670 IT experts to its books with the acquisition of SCISYS. Based in Dublin, SCISYS is a pan-European computer software and services provider specialising in the space and defence sectors, as well as in media and broadcast news. The firm has offices in Germany and the UK, and annual revenue of approximately £58.4m. CGI has paid £78.9m for the firm.

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Pokemon Go creator buys London studio Sensible Object

Pokemon Go creator Niantic has bought London gaming studio Sensible Object, establish its first outpost in the UK. The move signals Niantic’s commitment to designing new real-world AR (augmented reality) experiences for players.

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Subsidiaries snapped up as Redhall appoints administrators

Edwin James Group has taken over a subsidiary of Redhall Group following its parent’s entry into administration. Jex Engineering is a full-service engineering business with bases in Manchester and Redditch. The deal saves 70 jobs and will see Jex trade as Jex Process Services. Another Redhall business, Booth Industries, which makes steel doors, has also been acquired by Avingtrans for £1.8m.

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Dentsu Aegis Network buys re:production

Dentsu Aegis Network has announced the acquisition of Newcastle-based production company re:production. Founded in 2010, re:production employs 12 people and delivers production solutions for radio, TV commercials, animation and idents.

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Anglia Tours joins Next Generation Travel

School trip organiser Next Generation Travel has bought counterpart Anglia Tours. The deal increases NGT’s turnover to £17m and boosts its workforce to 68 staff.

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Creation Capital acquires Greenlane Biogas for £11.1m

Specialist engineering group Pressure Technologies has completed the £11.1m sale of Greenlane Biogas to Creation Capital. Greenlane Biogas reported turnover of £3m in the 12 months to 29 September 2018.

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Compass Group to find bearings in the Nordics

Compass Group has agreed to buy Fazer Food Services from Fazer Group for €475m (£422m). Fazer Food Services is a premier food service provider in the Nordics with revenues of c. €600m in 2018. It has 1,000 restaurants, half of which are in Finland, and employs around 7,000 people. With a presence in 45 countries, Compass Group employs 600,000 people and has revenues of around €26bn.

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Argon Medical Devices acquires UK distributor

Global US firm Argon Medical Devices has completed the acquisition of Mana-Tech, its exclusive distributor in the UK and Ireland. Argon’s products are primarily tailored to percutaneous, image-guided procedures.

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Funimation acquires Manga Entertainment

Streaming service Funimation has bought leading UKI anime distributor Manga Entertainment. The deal builds on the companies’ existing partnership, expanding Funimation’s catalogue as it bids to compete with the likes of Netflix and Crunchyroll.

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