Mobile application software developer Kirona Group has secured a ‘significant’ growth capital investment from mid-market private equity firm LDC.
Mobile application software developer Kirona Group has secured a ‘significant’ growth capital investment from mid-market private equity firm LDC.
The Cheshire-based business, which is located in Alderley Edge, was established in 2003 by former Oracle executives David Murray and Neil Harvey, and develops software products for a wide range of industries across the public and private sectors. It employs 33 people, including 20 software developers.
The firm’s software aims to maximise productivity and improve service levels by connecting clients, the office and field in near real-time. It is compatible with all mobile operating systems, including Android, RIM, iOS and Windows, and hardware devices.
Kirona also offers a mobile cloud platform that enables customers to store and access data securely off site. The business offers its technology through resellers and distributors, such as BT, Vodafone, IDOX PLC and Northgate Information Solutions, in addition to its own direct sales operation.
The funding will enable Kirona to accelerate its growth strategy, targeting under-penetrated sectors in the small and medium-sized enterprise (SME) market. It also plans to capitalise on international opportunities following recent client wins in Europe, New Zealand and Canada. The amount secured has not been disclosed.
Investment directors Jonathan Bell and Simon Braham led the transaction for LDC and will join Kirona’s board. The business also has Graham Gilbert, former chairman and chief executive of Computerland UK, as non-executive chairman.
David Murray, managing director of Kirona Group, comments, ‘Since inception, we have developed a fast evolving, wholly owned, market-leading technology, which has driven significant efficiencies in both the public and private sectors, and allowed us to develop deep relationships with leading global reseller partners.
‘Throughout the downturn, demand for our services has consistently expanded and reflects the proven efficiencies and ROI we deliver, the ease of integration our solutions offer with existing systems and the compatibility of our solutions with customers’ hardware assets.’
These drivers are coupled with the highly publicised evolution in smartphone technology and the increasing use and acceptance of employee owned smartphones in the workplace.
The deal represents LDC North West’s third investment in 2011, following its £12 million investment in live events and marketing agency WRG and its investment in musicMagpie.co.uk, the purchaser and multi-channel retailer of replay CDs, DVDs and games.
