SOUTH AFRICAN FIRM PAYS GBP12.8M FOR ANALYSYS BUSINESS
One of the world's leading telecommunications strategy consulting firms, Cambridge based Analysys, has been bought for GBP12.8 million by South African company, Datatec International, creating a totally new company, Analysys Mason Group (AMG.) Datatec combined Analysys with its existing subsidiary, Mason Group Ltd, to form the new company, which will be headquartered at the existing Analysys base in Cambridge.
Chairman and founder, David Cleevely will leave the company, retained in a consultational role, not as a company employee. Simon Jones, previously Analysys managing director, is now AMG's chief executive. Jones said: "We have no plans for staff reductions. It is a very exciting move forward for the company. "We have worked with Mason before and it is a very complementary union with virtually no overlapping of interests. "We have been actively looking for an opportunity like this for a while, so that we could meet strategic growth objectives. We now have the ability to access new clients both in our existing sector and others." AMG will have a staff count of approximately 300 people worldwide, retaining a presence in five countries. Combined revenue for Analysys and Mason last year was GBP29m.
Datatec International will transfer its shareholding in Mason to AMG as part of a leveraged management buy-out, in which the management of Analysys and Mason can participate in AMG at an equity level of up to 25 per cent. Analysys was advised on the sale by the Eversheds Cambridge office while its financial adviser was Deloitte.
Glynne Stanfield, corporate partner in Eversheds, who led the advisory team, said: "In combining with Mason, Analysys will be able to broaden the services it is able to offer. It will acquire additional IT expertise and will be able to access additional resources." David Cleevely, founder of Analysys, said: "We chose Eversheds from a very strong field and have not been disappointed. "They provided timely advice and kept the process moving and on track." Analysys has a global client base including regulators, governments, network operators, equipment manufacturers and financial institutions. It provides strategy and management consultancy, information services and start-up support throughout the telecommunications, IT and media sector. The firm has offices in Cambridge, London, Glasgow, Madrid, Milan, Paris, San Francisco and Washington DC and works with associates in Auckland, Melbourne and Vancouver. Mason was headquartered in Manchester, UK.