British software company Proteus snaps up rival Sharktower
British software company Proteus is snapping up rival Sharktower in a deal that will bring multi-million pound payouts to the small firm’s founders
British software company Proteus has taken over rival Sharktower in a deal that will bring a multi-million pound windfall to the small company’s founders.
Proteus, a consultancy which has worked with the BBC and the Ministry of Justice, would buy Edinburgh-based Sharktower for nearly £10million.
Bargain: Proteus would buy Edinburgh-based Sharktower for nearly £10m
The deal will bring the huge payout to founders Craig Mackay and Lynsey Taylor, along with a handful of others who have backed the two-year company.
Alex Lusty, director of investors at angel investment group Equity Gap, said the sale was “a great outcome for the founding team and our investors in Sharktower.”
Sharktower’s software, which has been used by BP, automatically tracks what is happening in a business and alerts managers when goals are not being met.
Cambridge-based Proteus, founded in 1999, hopes the deal will help it reach its goal of working with half of the FTSE 350 by 2025.