Member Article

190 jobs secured after takeover of York software firm

190 jobs have been secured after the takeover of York software firm Trustmarque Solutions by Liberata UK for an undisclosed sum.

Recovery firm Resolve was brought in to find a buyer for the £130 million turnover business, based in Huntington according to York Press.

Trustmarque will continue to operate as a separate entity under the direction of its current senior management team.

London-headquartered Liberata, backed by Yorkshire-based turnaround investor Endless, is a business process services company that helps customers reinvent complex services, transactions and technology.

Trustmarque, which has been operating for more than 25 years, helps organisations license, deploy and manage technology from a wide range of developers.

Trustmarque chief executive Scott Haddow said: “In Liberata we have found a natural home for Trustmarque. The strategic fit between the two organisations is excellent and as a result we are excited about the market opportunity that’s in front of us.

“Although there has been speculation and uncertainty in the last week, we’ve simply had a change of investor. I’d like to thank our employees, customers and partners for their loyalty and support over the last week and now assure them that we are very much back to business as usual.

“We continue to be a successful and profitable business, and with the added expertise, customer portfolio and services that Liberata brings to the table, we will go from strength to strength.”

Dermot Joyce, chief executive of Liberata said: “We are delighted to welcome Trustmarque, a profitable, hugely successful and cash generative business to the Liberata family.

“The acquisition creates significant value for Liberata and for all of our customers by connecting the ICT value chain. We see the advantages of the complementary service and solutions provided by Trustmarque and believe that together we can create an end-to-end proposition, for all of our clients.”

Squire Patton Boggs acted for Trustmarque Solutions with a team led by Jonathan Jones with support from Peter Morley and Hannah Graham.

This was posted in Bdaily's Members' News section by Clare Burnett .