|
contents | business | |||||||
| Management Team Acquires CIO Connect from NCC A management-led buy-out of the premier IT networking organisation CIO Connect was announced today. The team, led by Chief Executive Nick Kirkland, and supported by investment from Shackleton Ventures, acquired the business from the National Computing Centre (NCC) for an undisclosed sum. The new owners promised further investment as part of the plans to enhance the membership organisation dedicated to CIOs and their teams. "Independence allows us to completely dedicate our organisation to the CIO and their agenda", said Nick Kirkland, CIO Connect's Chief Executive. "We are now free to make additional investment in the network to further improve on the experience members receive, including investment in member relationship and services. And as an independent, commercial organisation our success is now inextricably tied to the success of our members. I am looking forward to seeing CIO Connect go from strength to strength as we take CIO networking to the next level and I am delighted to have the backing of Shackleton who bring a wealth of experience of growing businesses". "This is very good news for CIO Connect and the National Computing Centre", said Michael Gough, NCC's Chief Executive. "This additional investment in CIO Connect will enable it to grow to the next level and allows NCC to focus on its mission of championing the effective deployment and professional management of IT within the UK. The NCC Board wishes CIO Connect every success as it embarks on its next stage of its development." The acquisition was supported by investment from Shackleton, who specialise in direct secondary venture capital investments. Hugh Stewart, Managing Partner said: "I am delighted to be backing Nick and his team to acquire CIO Connect. They have excellent ideas for extending CIO Connect's range of services and we look forward to working with them to develop the business both in the UK and internationally". Hugh Stewart will join the new Board. write your comments about the article :: © 2008 Computing News :: home page |