Wright Hassall LLP has advised the shareholders of Cobent Limited on its sale to AIM listed Access Intelligence plc for £5.2 million. The consideration is made up of £3.2 million in cash and £2 million worth of shares of Access Intelligence.
Cobent, a leading supplier of training and compliance software, headquartered in Oxfordshire, will now become part of the Access Intelligence group of companies. The CEO of Cobent, Howard Sears, becomes a director of Access Intelligence plc.
Tim Goodman led the WH team assisted by Steve Halkett and Rita Rajput.
Field Fisher Waterhouse acted for Access Intelligence.
Tim Goodman said: “Both the M&A market and AIM are recovering from a very difficult period and it is good to see the purchase of a profitable, high growth software company by an acquisitive AIM company through equity funding.
Cobent has been a long-standing client of the firm and we are very pleased to have been able to advise its shareholders on the sale. It is also further evidence of the capability of the Wright Hassall Corporate team.”
Howard Sears, on behalf of the selling shareholders, said: “We are delighted to have completed the transaction in such a smooth and efficient way and appreciate Wright Hassall’s support throughout the process. We now look forward to continuing the growth of Cobent within the enlarged Access Intelligence group.”
