UK Edtech business Impero has been bought for £27.5 million. Investcorp has bought out the Nottingham-based business, trebling its value in just three years after a management buyout.
An online safeguarding software manufacturer, Impero provides its softeware to schools and educational establishments around the world. While its HQ is in Nottingham, the Edtech firm also operates out of a Californian office.
Sam Pemberton, chief executive of Impero, said: “Connection Capital’s support has enabled us to drive innovation forward and establish a premier position in the EdTech arena. Having achieved everything we set out to achieve with Connection Capital, we are now looking forward to delivering on our next set of business goals with Investcorp Technology Partners.”
After 15 years in business, Impero’s software is now accessed by more than 1.5m devices in more than 90 countries, including over 1,400 UK secondary schools.
Bernard Dale, partner at Connection Capital, added: “When we invested in Impero three years ago, it was an opportunity for our clients to back the continued development of best-in-breed education software which addressed huge market potential.
“Today, in an increasingly crowded marketplace, the business is performing extremely well, with a strong roadmap of product enhancements and a pipeline of new contract opportunities in the US and globally, as well as a market-leading presence in the UK.”