Nick Martin, partner, and Stephen Findlay, vice president, of Fidelity Equity Partners led the investment and have joined Picsolve’s board of directors.
Martin said: “We are delighted to be investing in Picsolve, the market leader in this exciting and growing market, which has historically proved resilient to economic downturn.”
Picsolve takes photographs of people on high-speed roller coasters at theme parks and at visitor attractions around the world, including Alton Towers, Madame Tussauds globally and the London Eye.
CM-Logic provided Software IP Assessment services tailored toward the due diligence process. Sean Egan, CTO Cm-Logic, said: “We used Black Duck’s Protex product to run an analysis of the software source code to determine the mix of any open source and third party code contained within. An understanding of the content of the code base being acquired can reduce the business risk and expedite the transaction.”
Cambridge Consultants, led by Dr Elizabeth Hill, head of transaction support, and David Bradshaw, head of software technologies, conducted technical due diligence. Bradshaw said: “Our ability to assess Picsolve’s optical products, integrated software systems, proprietary position, quality systems, regulatory compliance and operations allowed us to provide the investors with the necessary insight into the risks and core technological advantages.”
