Thu, 11 Jul 2024 | BUSINESS SALE
Clarity Software, a West Midlands-based management information system (MIS) software vendor, has been acquired by US group Inktavo. Clarity specialises in providing MIS software for job pricing, production management and inventory management to industries including the sign and graphics sector.
The company worked with advisers Clairfield to prepare for sale and find a buyer that represented a good strategic fit. Clarity Chief Executive Richard Gamlin said that company was seeking “to scale and expand geographically, particularly in the US and non-English speaking markets.”
The business was subsequently acquired by US-based Inktavo, a provider of integrated software services for branded merchandise companies. As well as expanding Inktavo’s geographic reach, the acquisition will also boost its product offerings.
Inktavo CEO James Armijo commented: "Inktavo's mission is to create a family of solutions for branded merchandise businesses to organise and grow.”
"Our acquisition of Clarity Software expands the geographics we can serve and positions Inktavo to provide even more flexible and comprehensive software solutions that enable signage shop businesses to grow seamlessly using a single application."
Gamlin, meanwhile, said: "Our customers will ultimately benefit from the expansion of flexible software functionality to help them grow using one application."
A Freeths team led by partner Lee Clifford and Managing Associate Olivia Johnson provided legal advice to Clarity’s shareholders on the transaction. Clifford said that Clarity has “developed an excellent software management information tool which has seen high growth.”
He continued: "The acquisition will enable Clarity to further scale and expand its product offering and particularly within the US.”
Clifford added that the deal “continues a busy run for the Freeths team” following “a number of deals in the tech (SaaS) space” over the past year. Clifford said that the sector was “continuing to provide buoyant M&A activity."
Find out more about preparing a business for a successful sale:
Tips for scaling up your six-figure business prior to a sale
Making your business a more attractive acquisition target
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