Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to GoodVision on its seven-figure revenue-based debt financing from Round2 Capital Partners. GoodVision is a UK-headquartered AI-powered Traffic Intelligence company, with operations in Prague, Czech Republic, that transforms existing CCTV and IP cameras into real-time traffic sensors, enabling road authorities, highway operators, cities and traffic consultancies to better understand and manage their road networks. Its camera-agnostic software works with existing camera infrastructure, allowing customers to access advanced traffic analytics without the need to replace installed equipment. The transaction demonstrates Strata’s ability to find the most appropriate sources of funding for our clients on our capital-raising mandates, in this instance revenue-based debt financing that provides GoodVision with non-dilutive growth capital to support its commercial expansion and continued growth across international markets.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Fera Science on its acquisition of 3Keel Group Ltd (“3Keel”). Established in 2013, 3Keel is a specialist sustainability consultancy that tackles risks and builds resilience across supply chains, food systems and landscapes. 3Keel’s evidence-led approaches, analytical capabilities and long-standing client partnerships have built a sector-leading reputation for creating novel solutions and delivering impact. 3Keel is also the creator of the LENs programme, which is included within the transaction and will be actively supported by Fera into the future. The combination of Fera and 3Keel marks a pivotal advance for the life-science sector, coupling Fera’s world-class expert laboratory and field services with 3Keel’s internationally acclaimed consulting and advisory practice, to deliver a unique level of end-to-end support. The transaction is supported by Bridgepoint, one of the world’s leading mid-market investors, who became Fera’s majority shareholder in January 2024 – a transaction where Strata acted as exclusive sellside adviser to exiting shareholder Capita plc. This transaction marks Strata’s second acquisition acting as financial adviser to Fera.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Fera Science on its acquisition of Qotho Minerals. Established in 2013, Qotho Minerals – formally Qotho Laboratory Services – is a leading proficiency testing (PT) service provider and trusted producer of certified reference materials (CRMs) for mineral and agri laboratories and geologists worldwide. The acquisition enhances Fera’s capabilities in laboratory assurance services expanding the breadth and depth of its proficiency testing portfolio delivered under its Fapas® brand. Bringing Qotho into the Fera group alongside Fapas®, opens opportunities to support clients and partners across new markets including agriculture, mining and minerals and presents a portal for the expansion of its PT services into Africa. The transaction is supported by Bridgepoint, one of the world’s leading mid-market investors, who became Fera’s majority shareholder in January 2024 – a transaction where Strata acted as exclusive sellside adviser to exiting shareholder Capita plc.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Capita plc (“Capita”) on the sale of its mortgage servicing business assets to Topaz Finance, a subsidiary of Computershare. The sale of the WMSL mortgage servicing business assets follows an evaluation that identified activities that are not core to Capita’s future strategy and are being ‘managed for value’. Capita’s strategy to manage for value focuses on improving the financial performance of the Group by prioritising margin improvement, cash generation and revenue growth. As the WMSL mortgage servicing business was a non-core loss-making business in 2023 (2023 revenue £5.8m), it was decided to seek a buyer that is better able to develop the business, helping it reach its full potential. The WMSL mortgage servicing activity is a complete outsourced mortgage administration service to providers of residential and buy-to-let mortgages, regulated by the UK Financial Conduct Authority. The business currently provides post-completion mortgage servicing and arrears management for several Special Purpose Vehicle (SPV) books.

Strata Partners is delighted to announce that it acted as corporate finance adviser to Tixserve on its capital raise by Maven Capital Partners through the British Business Bank’s South West Investment Fund. Tixserve provides a modular digital ticket distribution and management platform that streamlines ticket delivery, event management, and fan engagement. Tixserve’s white-label application is customised and branded for its clients, enabling them to distribute and host digital tickets, manage the attendee experience, and analyse event data, integrating with sales platforms and other applications. An alternative to generic digital wallet technology, Tixserve supports a number of blue-chip clients including several high-profile sporting organisations such as England Rugby, Welsh Rugby, Scottish Rugby, Celtic FC, FA Wales, Glamorgan Cricket, Hong Kong China Rugby and Rugby Australia which have adopted its digital ticketing solutions to streamline operations and enhance fan engagement.

Strata Partners is delighted to announce that it acted as corporate finance adviser to the shareholders of intuitive, the UK based technology provider of end-to-end reservation platforms for the leisure travel industry, on its sale to Banyan Software, a US based acquirer of enterprise software companies. Founded in 2003 and headquartered in the UK, intuitive is a leading provider of reservation technology for the leisure travel industry. Its flagship product, iVector, is an end-to-end booking platform used by tour operators, hotel wholesalers, and online and travel agents to manage sourcing, pricing, and booking fulfilment. intuitive is trusted by some of the largest names in travel to deliver flexible, scalable solutions that meet the evolving needs of the modern traveller. intuitive was backed by NVM Private Equity, a leading private equity investor focused on lower-mid market businesses across the UK.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to TeamSystem on its acquisition of Clémentine, a France-based provider of an AI-powered online accounting platform, which was announced on 28 February 2025. Headquartered in Pesaro and Milan, Italy, TeamSystem is a leader in Italy in management software for microbusinesses, SMEs, larger companies, professionals and associations. TeamSystem has a growing international presence since entering the Spanish and Turkish markets through acquisition in 2019 and 2023 respectively. Through the acquisition of Clémentine, TeamSystem has gained a direct presence in the French market and has expanded its footprint into the B2B online accounting sector.

Strata Partners acted as exclusive corporate finance adviser to Intelligent Reach, the UK based full-service data feed management software provider on its sale to Searchspring, the US based provider of ecommerce site search, product merchandising, and ecommerce personalisation. Intelligent Reach was backed by SEP, the technology focused growth investor. Its software empowers mid-market and enterprise merchants by curating their product data to optimise for distribution across more than 1,500 advertising channels, shopping sites, and marketplaces by managing product data effectively, integrating it across platforms, and syncing orders with existing systems to streamline operations. The biggest consumer-facing channels in the world, including Google Shopping, Amazon, eBay, Facebook, Instagram use Intelligent Reach. The platform reduces the time it takes a brand, retailer, or agency to access new channels to days rather than weeks. It streamlines operations, accelerates entry to new markets, manages the complexity of marketplaces and social commerce, and increases return on ad spend (ROAS).

Strata Partners is delighted to announce our latest TIC sector transaction, advising Capita plc (“Capita”) on the sale of its 75% shareholding in Fera Science Limited (“Fera”) to Bridgepoint Group plc (“Bridgepoint”) for an enterprise value of £60 million on a cash-free, debt-free basis.  The deal values the total joint venture at £80 million. Fera was established in 2015 as a joint venture between Capita and the UK Department for Environment, Food & Rural Affairs (“Defra”) to create a financially sustainable business focused on the agriculture, farming and food production market.  It specialises in environmental testing, research, and advisory and assurance services for both the public and private sectors. As part of the transaction, Defra is retaining its shareholding. Commenting, Mark Sargeant, Partner at Strata Partners, said: “We were delighted to advise Capita on this complex transaction, our third landmark laboratory sector deal in 2023.  The transaction realises significant value for our client and positions Fera for an exciting next stage in its development, building upon what is now a vibrant and profitable commercial business, serving private sector and government customers both in the UK and internationally.”

Strata Partners is delighted to announce our latest TIC sector transaction, advising Macquarie Capital Principal Finance (Macquarie Capital) on its acquisition of Camin Cargo Control Holdings, Inc. (Camin Cargo), a global provider of independent testing, inspection and certification services to the energy industry. Founded in 1982, Camin Cargo has 64 laboratory and inspection branches across 19 countries in the Americas and Europe. The company provides essential testing and inspection services of liquid fuels to ensure products meet commercial and regulatory requirements, as well as remedial fuel treatment services. These services are vital in maintaining fuel quality and controlling emissions, and increasingly support customers developing and introducing renewable fuels.

Strata Partners is delighted to announce that it acted as exclusive financial adviser to Branchspace Limited (“Branchspace”) on its £5 million capital raise by Gresham House Ventures (“Gresham”). Founded in 2013 and headquartered in London, Branchspace allows clients to create and manage personalised, data-driven digital commerce experiences to increase direct distribution and take greater ownership of the end-to-end customer journey. Branchspace provides solutions across the entire tech stack including solutions architecture, digital performance reviews and UX/UI experience design, alongside a proprietary booking and conversion engine and dynamic retailing software platform, Triplake, which has gained significant traction since launching in 2021. The investment will be used primarily to accelerate the growth of Branchspace’s comprehensive and best-in-class suite of software components to ensure travellers experience effortless website and mobile app navigation, booking, ancillary offerings, check-in, servicing and payments.

Strata Partners is delighted to announce that it arranged and acted as exclusive corporate finance adviser to Normec, the European TICC sector consolidator and a portfolio company of private equity firm, Astorg, in relation to the acquisition of i2 Analytical, the UK-market leading provider of environmental, construction materials and food testing services i2 Analytical. Founded in 2004 by current CEO Les Jones, i2 Analytical has grown to become a best-in-class provider of laboratory testing services, benefiting from state-of-the art laboratories in the UK and Continental Europe, a comprehensive suite of testing capabilities and accreditations, and a rigorous focus on customer service. The acquisition of i2 provides Normec with an entry into the important UK market at scale, while establishing a compelling pan-European capability across attractive environmental and food testing markets.

Strata Partners is delighted to announce that it acted, in association with its partner Cassiopea Partners, as financial adviser to Aptos, LLC (“Aptos”) on the sale of its planning and product lifecycle management division (“Aptos’ Planning Division”) to Aptean. Through the transaction, Aptean acquired the full breadth of operations and the product portfolio of Aptos’ Planning Division, which included solutions for merchandise financial planning (MFP), product lifecycle management (PLM), assortment planning (AP), and allocation, forecasting and replenishment (AFR). Hundreds of established customers, including well-known fashion companies across the globe, rely on these solutions to anticipate demand, optimise production and make more informed decisions. The addition of these products complements Aptean’s enterprise resource planning (ERP) and shop floor control (SFC) offerings for the apparel industry with tools that support the entire apparel merchandise lifecycle from concept to shelf, providing visibility and real-time insights into financial planning, design, purchasing, distribution and delivery.

Strata Partners is delighted to announce that it acted as the exclusive financial adviser to the shareholders of Roomex Limited (“Roomex”) on its sale to FLEETCOR Technologies, Inc (“FLEETCOR”), a leading global business payments company headquartered in Atlanta, GA, USA and listed on the New York Stock Exchange. Roomex serves businesses of all sizes by providing a travel and expenses management solution specifically designed for businesses with a large mobile workforce. The deal to bring the business into FLEETCOR will fuel growth into new markets for Roomex, which currently operates in Ireland, the UK and Germany, alongside continued enhancement of its booking and payments solutions and a further extension of its hotel network. Roomex currently has 600 workforce business customers whose employees have stayed in approximately 50,000 hotels. Roomex was most recently recognised at the Business Travel Awards Europe 2022, being shortlisted in the ‘Accommodation Innovation’ and ‘Payments & Expenses’ categories. The company was backed by venture capital firms Frontline Ventures, Harmony Ventures and Molten Ventures, as well as Claret Capital Partners, Enterprise Ireland and numerous angel investors.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Averroes Capital (“Averroes”) on its significant growth capital investment in Journey Hospitality (“Journey”). This is the maiden investment made by Averroes, a new UK based mid-market private equity investor that partners with ambitious management teams to deliver growth and build great businesses. Founded in 2012 and headquartered in Cheltenham, Journey recently launched its ‘onejourney’ ecommerce platform for hotel operators, which is already being used by over 100 luxury hotels and resorts. The software aggregates all of a hotel’s products into live bookable inventory, enabling hotel guests to book multiple services (including rooms, spa treatments and dining tables) seamlessly online in one basket, with significant benefits both for hotel profitability and for the customer experience.

Strata Partners is delighted to announce that it acted as exclusive financial adviser to Novatus Advisory Ltd (“Novatus”) on its £4 million equity capital raise by Maven Capital Partners (“Maven”). Novatus is a London headquartered provider of specialised advice to financial services firms to support them in complying with their regulatory obligations, including risk, compliance and ESG programmes. Key to this is Novatus’ RegTech division which develops market leading tools to support firms with complex challenges. Their flagship product, the Novatus Transaction Reporting Analysis (TRA) tool, enables banks and asset managers to meet their transaction reporting reconciliation requirements in an efficient and cost-effective manner. The Maven VCTs have committed £4 million of investment to Novatus. The funding from Maven will be used by Novatus to invest further in its team of technical advisors as well as expanding its sales and marketing resources to support the growth of its RegTech offering. The funding will also support ongoing investment in its TRA tool as the company targets further penetration of the market to help deliver on its ambitious plans.

Strata Partners is delighted to announce that it acted as the exclusive financial adviser to Hitesh Chowdhry and Shameer Thobhani on the sale of a majority stake in InvestIN Education Limited (“InvestIN”) to Dukes Education (“Dukes Education”). Co-founders Hitesh Chowdhry and Shameer Thobhani founded InvestIN in 2012 in London, UK. Their mission was to empower students aged 12-18 to choose the right career and maximise their potential by providing them with an immersive experience of their dream career, through hands-on simulations delivered by world-class professionals. InvestIN provides a range of top-quality immersive in-person and online experiences for aspiring doctors, engineers, investment bankers, lawyers, medics, vets and more. InvestIN has grown fast without any external funding; it now employs more than 50 UK-based staff, offering programmes to students across the UK and in the USA, Middle East and Asia. More than 50,000 students from over 100 countries have attended its career taster programmes in the past 10 years. And, through its recently introduced AmbitionX online careers platform, InvestIN now offers students an even wider choice of career-focused live events to help them identify and experience potential careers that they may wish to pursue in future.

Strata Partners is delighted to announce that it acted as the exclusive financial adviser to Müller Medien, sole shareholder of Billomat GmbH & Co. KG (“Billomat”), on the sale of Billomat to aifinyo AG (“aifinyo”, XTRA:EBE) announced on 21 March 2022. Founded in 2007 and headquartered in Nuremberg, Germany, Billomat is a leading cloud invoicing and bookkeeping software provider to thousands of micro and small / medium businesses in Germany, Austria and other European countries. The business was co-founded by the German publishing and media group, Müller Medien, who has owned 100% of the business since 2015. aifinyo, which is based in Dresden, Germany and is listed on the Xetra and Frankfurt exchanges (XTRA:EBE, FRA:EBE), is a bank-independent fintech company that provides invoicing and liquidity management solutions to small and medium-sized companies in Germany. aifinyo operates a unique platform offering billing, factoring, purchasing financing, leasing and receivables management. The transaction officially closed on 23 May 2022.

Strata Partners is pleased to announce that it acted as the exclusive corporate finance adviser to the shareholders of Company Watch Limited (“Company Watch”) on its sale to Volaris Group Inc (“Volaris”), an operating group of Constellation Software Inc. (TSX: CSU). Founded in 1998, Company Watch is a London-based financial and risk analytics provider headquartered in London with a client base that includes major enterprise clients such as AIG, Allianz, Atradius, the Bank of England, BAE Systems, Barclays, the Cabinet Office, Euler Hermes, HSBC, Interpath, PWC, Rolls Royce, Teneo, Worldpay and Zurich. Company Watch’s online platform provides clients the analytics and tools they need to predict future financial risk with great accuracy, enabling better business decisions. Company Watch’s latest generation of products are extending the scope of its analytics tools by applying cutting-edge machine learning techniques to new, alternative data sets. Volaris Group is a buy and hold acquirer of software businesses focused on the long term. It is a subsidiary of Constellation Software Inc., a listed Toronto, Canada-based provider of specialized, mission-critical vertical market software solutions company based in Toronto with over 25,000 employees and generating consolidated revenues exceeding US$4 billion.

Strata Partners is delighted to announce that it arranged, and acted as exclusive corporate finance adviser to Forensic Access (a portfolio company of Limerston Capital) in relation to, the acquisition of leading bioanalysis and toxicology laboratory services provider Analytical Services International Limited (“ASI”), www.bioanalytics.co.uk. Founded in 1983 by Professors Athol Johnston and David Holt, ASI has evolved to become the UK’s leading provider of specialist forensic toxicology, therapeutic drug monitoring, clinical trial bioanalysis and expert witness services, benefiting from the expertise of its team, its state of the art instrumentation and a longstanding reputation for scientific excellence.  ASI is a member of the MHRA’s GLP and GCP compliance programmes and is accredited by UKAS to ISO 17025. The services and customers of ASI are highly complementary to those of Forensic Access and the combination will position the enlarged group as the UK’s leading provider of sought-after specialist forensic and related analytical services. The transaction is Strata’s most recent success in the laboratory and pharma services sector and its second transaction in that sector of 2022, and adds to a track record of more than 25 successfully completed deals in the space.

Strata Partners acted as exclusive corporate finance adviser to Adaptive Financial Consulting Limited (“Adaptive”), the specialist global electronic trading consultancy, on its acquisition of Real Logic Limited (“Real Logic”), a low-latency trading technology development firm. Real Logic delivers front office solutions for financial services firms in capital markets, developing low-latency trading systems using Aeron, the open-source messaging system, and Aeron Cluster, a technology that provides fault-tolerance through consensus. Aeron is the market-leading messaging system for trading firms concerned with performance, whether deployed on premise or in the cloud, and is a product of years of innovation by the team at Real Logic. The acquisition of Real Logic is a key strategic development for Adaptive, as it brings Aeron and Aeron Cluster in-house, enhancing Adaptive’s ability to deliver bespoke trading systems for clients. The acquisition also brings over a dozen financial services clients on recurring Aeron support contracts to Adaptive, with significant upsell potential. The transaction was structured as the acquisition of 100% of the share capital of Real Logic, a UK-based company, and the purchase of the Aeron-related assets of StoneTor LLC, a California-based company. The owners of Real Logic and StoneTor are the creators of Aeron and Aeron Cluster, and are acknowledged world experts in low latency trading systems. Both are joining Adaptive in senior roles in conjunction with the transaction. Founded in 2012, Adaptive is the partner of choice for ambitious capital and commodity markets participants that are looking to achieve a sustainable competitive edge through the creation of highly differentiated front office systems. From offices in London (HQ), New York, Barcelona and Montreal, Adaptive’s 230+ staff build electronic trading systems for buyside & sellside institutions, brokers, exchanges and venues, and fintechs. These trading systems increasingly are built on Adaptive’s proprietary Hydra Platform.

Strata Partners is delighted to announce that it arranged and acted as exclusive corporate finance adviser to Limerston Capital in relation to their recent acquisition of the microbiology and in-vitro toxicology testing activities of Gosport, UK-based Wickham Laboratories to form a new, standalone business, Wickham Micro. As part of the acquisition, a separate entity for the in-vivo toxicity testing part of the business has been created and will remain under the control of the previous owners. Wickham Micro has provided expert microbiology and in-vitro toxicology services to the pharmaceutical and medical device sectors for almost 60 years.  The team works with global brands to deliver a comprehensive range of testing services for the safe and efficient release of their products. The new business will be led by pharma services industry veteran Mark Hammond, who was introduced to Limerston Capital and the Wickham Micro acquisition opportunity by Strata. With strong fundamentals, an impressive client list and a long-standing reputation for excellence and quality, Wickham Micro offers a platform for significant growth, both organic and inorganic.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Purepromoter Group (Holdings) Limited (“Pure360”) on its sale to Spotler Group (“Spotler”). Founded in 2001, Pure360 is a marketing technology (MarTech) provider headquartered in Brighton, UK, with clients that include household names such as Blackwell’s, Gossard, Innocent Drinks, Kuoni, the NHS, Pour Moi, Wagamama and Whirlpool. Pure360’s SaaS solutions help marketers get better results with products that span the digital marketing landscape, from email marketing through website personalisation to advanced analytics. Spotler, which is headquartered in Rotterdam, the Netherlands, empowers marketing and sales professionals to convert prospects to customers with its all-in-one marketing automation platform. Spotler is backed by Rotterdam-based investor CNBB Ventures Partners.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Dohop ehf. (“Dohop”), a Reykjavik-based provider of virtual interlining software for airlines, on a growth equity financing from Scottish Equity Partners (“SEP”), one of Europe’s leading growth equity firms.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Pharmaron Beijing Co., Limited (Stock Code: 300759.SZ/3759.HK) (“Pharmaron”), a fully integrated contract research and manufacturing organization offering laboratory, CMC and clinical development services for the life science industry, on its acquisition of 100% of the equity of Absorption Systems for up to US$137.5 million in cash.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser on the simultaneous sale of Forensis Group Limited and Forensic Axis Limited, (trading respectively as Forensic Access and Axiom International (together the “Businesses”)) to Limerston Capital Partners I, L.P.  These are two established businesses in forensic science services and international institutional reform and capacity building. Operating from state-of-the-art facilities in Wantage (Oxfordshire), Forensic Access was established by Professor Angela Gallop in 1986 to provide high quality advice and guidance, and cutting edge science across all sectors of criminal and private sector justice.  Forensic Access has since evolved to provide a comprehensive range of forensic science services both in the UK and internationally, with particular expertise in firearms and ballistics, fingerprints, forensic biology and DNA, animal forensics and a wide range of niche forensic and medico-legal capabilities. With its headquarters in London, Axiom International operates globally, delivering imaginative, sustainable solutions in the fields of strategic capacity building, institutional and public sector reform, justice and peacebuilding, and national security development in some of the world’s most challenging regions. Benefiting from investment by Limerston, the Businesses will now form the basis of a new international criminal justice services provider offering the very best of British forensic science, criminal justice and national security expertise to police forces, legal professionals and governments worldwide. Management and the principal shareholders of parent company Forensic Axis were advised by Strata Partners.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Billing Services Group Limited (“BSG”, AIM:BILL) on the sale of its Wi-Fi technology business, BSG Wireless, to Single Digits, Inc. (“Single Digits”), a portfolio company of GI Partners. BSG, a Bermuda company headquartered in San Antonio, Texas, USA, and listed on AIM (AIM:BILL), is a leading provider of telecommunications clearing and financial settlement products, Wi-Fi data solutions and verification services. Following a competitive sale process, Strata Partners advised BSG on the sale of the assets of BSG’s wholly owned subsidiary, BSG Wireless Limited, to a subsidiary of Single Digits, a provider of Wi-Fi based services to the hotel and multi-dwelling unit (MDU) sectors based in Bedford, New Hampshire, USA. The size of the transaction meant that the disposal of the assets of BSG Wireless was deemed to result in a fundamental change of business under AIM Rule 15 and, consequently, required shareholder approval. Strata negotiated a complex asset purchase agreement that reflected the multi-jurisdictional nature of the transaction (assets and employees in the US and UK, a US buyer and a US-headquartered, Bermuda registered and AIM-listed seller). The transaction was announced on 31st January 2020 and closed on 28th February 2020.

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Joyful on its sale to The Access Group (“Access”). Joyful is a London-based provider of website creation and online marketing Software as a Service (SaaS) solutions to Charity and Membership organisations in the UK, Australia, Ireland and New Zealand. Since launching its SaaS solutions in 2014, Joyful has grown rapidly to become the market leader in software-based website creation and online marketing tools for mid-sized and small charities in the UK and Australia. Approximately 900 customers across two continents use Joyful’s solutions to create an engaging digital presence that enables them to raise tens of millions of pounds and to create more impact in support of their goals. The Access Group is one of the UK’s leading providers of software to growing mid-market businesses and charities, and is backed by TA Associates and Hg. In its 2018 fiscal year, it generated turnover of £143.1 million and EBITDA of £47.6 million, making it one of the UK’s largest private software companies.    

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Oxatis S.A. (Euronext: ALOXA) on its acquisition of Channel Pilot Solutions GmbH (“Channel Pilot”). Having advised Oxatis on its entry into Europe’s largest e-commerce market, the UK, through the acquisition of certain assets of Actinic Software Limited in 2011, Strata is pleased to have advised Oxatis on a second acquisition, which provides an entry point into Europe’s second largest e-commerce market, Germany. Founded in 2012, Channel Pilot develops and sells product data marketing solutions allowing online merchants to list their catalogues on all the influential marketing networks (price comparison sites, marketplaces, etc.), analyse their performances and optimise pricing. With this transaction, Oxatis has secured market entry into the no. 2 e-commerce market in Europe. B2C e-commerce revenue exceeded €85 billion in Germany last year and is expected to reach €93 billion in 2018 (i.e. growth of almost 10% year-on-year).

Next Wave Partners today announced that it has led a £6.5 million investment round, with a £5 million investment from its Fund, and co-investment of £1.5 million from Beechbrook and Access Capital Partners, into Future Thinking, the leading European provider of data science and analytics to blue-chip clients.

Strata Partners acted as exclusive financial adviser to LGC Douglas Scientific on the sale of its Amplifire® isothermal point-of-use nucleic acid detection product line and intellectual property to Agdia Inc.

Strata Partners acted as exclusive corporate finance adviser to Sam Crawford and Maven Capital Partners on the sale of Crawford Scientific, a leading supplier of chromatography solutions and technically demanding analytical services, to Limerston Capital Partners LLP. The sale, Strata’s 4th successful laboratory sector transaction this year, followed a focused competitive process and reinforced Strata’s commanding position in the specialist laboratory testing, services and solutions space.

Strata acted as exclusive financial adviser to Giosg.com Oy, on its €4.5m financing led by the Swedish fund Varenne Investments. Giosg is a Helsinki based technology company that provides intelligent conversion marketing – identifying indecisive web visitors and targeting them with the right actions in real-time to dramatically increase conversion rates. The Giosg platform enables its corporate customers to calculate in real-time what is the most effective action (e.g. pop-up chat, coupons or banners) to take for a given web visitor. Giosg also deploys machine intelligence to learn which actions maximise conversion. Varenne is a Venture capital firm founded in 2015 in Sweden as a family office investing in challengers with scalable business models in fast growing industries. The funds will be used to boost Giosg’s AI capability as well as to accelerate market penetration into the UK and Nordic market.

Strata acts as exclusive financial adviser to NYSE listed Luxoft on its acquisition of derivIT, a Singapore-based financial services-focused technology consulting provider. derivIT provides a unique blend of technology expertise, deep domain understanding and strong knowledge of leading platforms (notably Murex) in credit and risk management and capital markets. deriviT adds several marquee logos with considerable cross-selling potential across Singapore, Malaysia, Australia, India, China and the Middle East to Luxoft’s High Potential Accounts list. This acquisition positions Luxoft’s Financial Services practice as a truly global one-stop destination for all technology needs, from advisory to engineering, in the capital markets industry, as well as establishing a sizable Asia-Pacific and Middle Eastern presence for Luxoft to cater to financial services, automotive and other customers in future. The transaction was closed upon the receipt of the approval by Reserve Bank of India, as well as satisfaction of several other customary conditions precedent. Luxoft Holding, Inc. (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft’s software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft’s solutions are based on its proprietary products and platforms that directly impact its clients’ business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 32 dedicated delivery centers worldwide. It has more than 12,000 employees across 39 offices in 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com. Strata Partners acted as the exclusive financial adviser to

Strata acted as exclusive financial adviser to the shareholders of debitoor, the Copenhagen-based cloud invoicing and accounting software provider for European microbusinesses, on the sale of the company to SumUp, the Berlin and London-based provider of mobile card payment processing solutions. debitoor started in 2011 as a unit of e-conomic International. Following the sale of e-conomic to Visma in May 2015, debitoor became an independent company and shortly thereafter shifted its revenue model from freemium to a paid subscription service. By the summer of 2017, debitoor had build up an impressive customer base of over 20,000 microbusinesses, principally in Germany, Spain, the UK, France and Italy. debitoor was majority owned by HgCapital, a leading mid-market private equity firm investing primarily in Northern Europe.  

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Vayant Travel Technologies Holdings, Inc on its sale to PROS Holdings, Inc., for a consideration of US$35 million. Sofia, Bulgaria-based Vayant is a cloud software company that provides advanced shopping, pricing, merchandising and inspirational travel solutions to major global airlines and tour operators. The acquisition of Vayant accelerates PROS modern commerce innovation for the travel industry and positions PROS to deliver even greater value to its travel customers. The powerful combination creates an end-to-end offer optimization solution designed to help travel companies deliver personalized offers and expanded choices that drive loyalty and growth.  

Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Close Brothers Private Equity Capital LLP (“CBPE”) on the sale of YorkTest Laboratories Limited by way of a management buyout supported by Key Capital Partners. YorkTest is the UK market leader in food intolerance testing and trades under the YorkTest and Lorisian brands.  The Company offers comprehensive support to customers in identifying food intolerance and guiding them through dietary changes with the aim of addressing ailments such as IBS, migraines and skin conditions.

Strata Partners is pleased to announce that it acted as exclusive corporate finance adviser to mid-market private equity firm Inflexion on its investment in Cawood Scientific, the UK’s leading provider of agri-testing data.

Strata Partners is delighted to announce the sale of Xceleron Inc., the Maryland, US-based globally leading Accelerator Mass Spectrometry (AMS) specialist for life sciences, to Pharmaron, a fully integrated contract research organisation offering R&D services for the life science industry with over 4,000 employees, and operations in China, the United States, and the United Kingdom. Commercial details of the transaction are not being disclosed. Xceleron, located in Germantown, Maryland, pioneered and developed the robust use of 14C microtracers and AMS analytical technology in pharmaceutical R&D. Since 1998, Xceleron has designed new preclinical and clinical investigations around the unique analytical features of AMS. With increased adoption, Xceleron developed a proprietary approach to ensure analytical robustness at very low levels of detection compared to complementary traditional platforms such as LC-MS/MS and Liquid Scintillation Counting. Benefiting from Xceleron’s work, AMS detection is now widely accepted as a valuable analytical tool in the quest for improved efficiency in pharmaceutical R&D. Xceleron’s use of microtracers and AMS detection technology complements Pharmaron’s existing platforms of radiolabelled compound manufacturing and radiolabelled metabolism. The acquisition is part of Pharmaron’s strategy to provide fully integrated, end-to-end R&D services.

Strata Partners is pleased to announce that it acted as retained corporate finance adviser to Luxoft Holding, Inc. (NYSE:LXFT) on its acquisition of Pelagicore AB, a leader in open source software (OSS) platforms and services for in-vehicle infotainment (IVI) and human machine interface (HMI) development. Pelagicore AB serves a number of blue-chip corporations and enjoys industry recognition as thought leaders in the HMI space with deep expertise in open source technologies, the cross-platform user interface (UI) development framework Qt, and in IVI systems. Its product portfolio facilitates richer user experiences (UX) and user interfaces (UI) in line with the next generation of consumer electronics. Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft’s software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft’s solutions are based on its proprietary products and platforms that directly impact its clients’ business outcomes and efficiently deliver continuous innovation. Luxoft develops its solutions and delivers its services from 28 dedicated delivery centers worldwide. It has over 11,000 employees across 35 offices in 18 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com.  

Strata acts as exclusive adviser to Luxoft. We are delighted to announce the completion of Luxoft’s acquisition of INSYS Group, Inc. (“INSYS”), a Rochelle Park, New Jersey-based IT consulting provider serving a large number of blue-chip corporations (including several members of the Fortune 100), with a significant proportion of revenue being generated from the healthcare, pharmaceuticals & biotech and telecom verticals. The core service offering of INSYS includes the development of advanced predictive analytics, business intelligence & data warehousing, digital marketing, and enterprise information management systems for their clients. Up front consideration for INSYS’ issued and outstanding share capital was $37.9 million, with further earnout payments of up to $33.5 million payable based on the achievement of certain revenue and EBITDA targets in the period up to December 2018. Luxoft (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft has over 11,000 employees across 36 offices in 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange with a current market capitalisation of $1.8 billion.  For more information, please visit www.luxoft.com. Strata Partners acted as the exclusive financial adviser to Luxoft. This is our second buyside transaction for Luxoft. Strata has previously advised Luxoft on the acquisition of Excelian Limited, a UK based company specialising in trading and risk management software in the financial securities and commodities markets, in February 2015.

Strata Partners is pleased to announce that it has acted as exclusive corporate finance adviser to Future Thinking and its shareholders on a £13 million investment from Beechbrook Capital and Access Capital Partners. Next Wave Partners (“Next Wave”), the transformational growth capital private equity fund, announced that it had closed a £13 million investment round into its portfolio company, Future Thinking (the “Company”), with funds provided by Beechbrook Capital (“Beechbrook”) and Access Capital Partners (“Access”). Future Thinking is an award-winning insight and analytics consultancy that provides its clients with business intelligence and insight across product and brand development, media and marketing communications, and customer experience analysis. Next Wave, which remains the majority shareholder in Future Thinking, has made a series of strategic acquisitions since 2010 to form Future Thinking, which is now one of the largest privately-owned insight agencies in the UK. This investment is in direct support of the Company’s strategy to enhance its analytics capability and expand operations in continental Europe. Beechbrook and Access provided a unitranche loan and working capital facility to Future Thinking totaling £13 million. This financing package will help Future Thinking accelerate its organic growth while also providing capital to finance strategic acquisitions that will broaden in services offering, provide access to lower-cost delivery locations and bring further talent to service its clients. Strata Partners acted as exclusive financial adviser to Future Thinking and its shareholders on the capital raising process, which involved considering a number of quite different structuring options including both debt and equity financing. Strata Partners has a track record of advising in the market research industry going back to 2009, and has been advising Future Thinking on fundraising and a variety of acquisition opportunities since 2015.

Strata acted as exclusive corporate finance advisor to business intelligence and analytics consultancy Future Thinking and its shareholders on the acquisition of Gemseek, for an undisclosed consideration. Future Thinking is the UK-based award-winning insight and analytics consultancy that provides its clients with business intelligence for new product launches, brand development, media and marketing communications and customer experience. Next Wave Partners, the majority shareholder, has made a series of strategic acquisitions since 2010 to form Future Thinking, which is now one of the largest privately-owned insight agencies in the UK. This investment is in direct support of the company’s strategy to enhance its analytics capability and expand operations in continental Europe. Gemseek is a Bulgaria-based specialised data science and analytics company providing a full spectrum of data analytics services with a proven track record in customer experience and loyalty research, competitive intelligence, brand analytics and market modelling. The transaction will combine two leading business intelligence providers, accelerating Future Thinking’s growth and broadening its services offering, providing access to low-cost delivery locations and bringing further talent to service its clients This is Strata’s second transaction in the business intelligence and market research space Strata ensured the process ran smoothly despite the complications from being a cross-border, debt financed transaction.  The transaction stucturing required meticulous planning, preparation and support to ensure a successful and timely outcome.

Strata Partners is pleased to announce that it has acted as exclusive corporate financial adviser to the shareholders of Holvi Payment Services Oy (“Holvi”), the Helsinki-based online business banking provider, on the sale of the company to Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”, BME:BBVA), the global banking group. Holvi is the FinTech innovator bringing disruption to the small business banking sector, and as such attracted the interest of BBVA as it expands its portfolio of digital businesses. Holvi, which will continue to be run as a stand-alone business, offers value-added online banking for European small and micro businesses by giving them a complete platform to manage all aspects of their finances.

Strata Partners is pleased to announce that it acted as exclusive corporate finance adviser to leading mid-market private equity firm Inflexion, on the carve-out of the Engineering Inspection & Consultancy division of RSA Insurance Group PLC.  The new company will trade as British Engineering Services in the UK and Irish Engineering Services in the Republic of Ireland. The transaction was Strata’s 18th successful advisory transaction in the testing, inspection and certification space and its third sector deal in 2015.

Strata acted as exclusive financial adviser to the shareholders of Drivr (Click A Taxi ApS) on its €3 million Series A financing led by the Danish venture capital fund Vækstfonden. Drivr is a Copenhagen-based company that offers taxi companies cloud-based dispatch and booking solutions as well as next-generation mobile apps for their drivers and passengers. Drivr’s unique positioning in a hotly contested market is its ability to help existing taxi companies maintain and grow market share in the context of an increasingly app-dominated industry. Drivr has also developed a voucher-based marketing solution for taxi companies that is highly capital efficient for investors, unlike certain rival models. The company is backed by some of Denmark’s leading business angels including the founders of GoViral (sold to AOL), WorldOne (a former Strata client) and Zyb (sold to Vodafone). The company employs 24 staff in Copenhagen and Cambridge and has deployed its solution to clients in the Nordics and UK. Vækstfonden is a Danish state investment fund that has invested in some of Denmark’s leading ventures such as Trustpilot, the leading consumer website review service. The fund focuses on making seed, venture and growth investments in the technology, life sciences and alternative energy sectors. Strata advised Drivr from shortly after the launch of its Cloud-based dispatching system on a range of financial and operational areas that proved critical to obtaining funding for its growth plan. Strata also helped generate competitive tension during the fundraising process, approaching a number of leading European institutions and corporate VCs. Due to the early stage of development of Drivr at the time the round closed, a local VC was best suited to lead the round, but several other high profile European investors are now monitoring Drivr’s progress and may invest in the Series B.  

Strata Partners acted as exclusive corporate finance adviser to Albion Ventures, Maven Capital Partners and the management shareholders of Lab M Holdings Limited, a UK-based developer, manufacturer and supplier of microbiological media and diagnostics products, on its sale to Neogen Corporation (NASDAQ:NEOG), the international food and animal safety company. Lab M was founded in 1971, and has grown into a leading provider of microbial testing and diagnostic products for the global food, water, industrial and clinical testing markets. The company currently sells into more than 70 countries worldwide, and has several large customers in the European Union, Middle East and India. Neogen Corporation develops and markets products dedicated to food and animal safety. The company’s Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen’s Animal Safety Division is a leader in the development of animal genomics along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care and disinfectants.

Strata advised the shareholders of ClusterSeven Limited, the UK based provider of governance, risk and compliance software for business critical spreadsheets, on its sale to Azini Capital Partners LLP, the UK based private equity firm.

Strata advised the shareholders of Fits.me Holdings Limited, the UK based provider of online fit and size recommendation solutions to the fashion industry, on its sale to Rakuten, Inc. (TOKYO: 4755), a global leader in e-commerce. Strata acted as exclusive financial adviser to the shareholders of Fits.me Holdings Limited on the sale of the company to Rakuten, Inc. Fits.me is a venture-backed company delivering online fit and size recommendation solutions which enable leading apparel brands and retailers to engage with their shoppers, personalise their purchase journey and enjoy valuable operational insight through a portfolio of solutions centred on Fits.me’s expertise in fit. The company employs over 60 operations and commercial staff in London and New York, and at three sites in Estonia which provide its development, research and support operations. Rakuten is one of the world’s leading Internet services companies, providing a variety of consumer and business-focused services including e-commerce, e-reading, travel, banking, securities, credit cards, e-money, portals & media, online marketing and professional sports. Founded in 1997 and selected by Forbes as the world’s 17th most innovative company in 2014, Rakuten is based in Tokyo and employs over 10,000 staff worldwide with operations throughout Asia, Western Europe and the Americas. Rakuten’s market capitalization was approximately $23 billion in May 2015 and revenues were over $5.4 billion. Terms of the transaction were not disclosed.

Strata Partners acted as exclusive Corporate Finance adviser to SVA Limited, an independent provider of advisory, testing and innovative IT services to the food and consumer products industry, on its sale to SGS, the world’s leading inspection, verification, testing and certification company.

Backed by SmartCap, the venture capital investment arm of the Estonian Development Fund, VitalFields is European provider of software for farm management, field level weather forecasting, plant disease forecasting and farm stock keeping. Strata supported VitalFields in its Series A fundraising involving new monies from SmartCap and a strategic investment from one of the World’s largest agrochem companies.

Strata advised NYSE listed Luxoft on the acquisition of Excelian, a systems integrator and technology consulting company specializing in trading and risk management software in the financial services and commodities markets. Luxoft Holding, Inc. (“Luxoft”) acquired Excelian Limited (“Excelian”), a UK based systems integrator and technology consulting company specializing in trading and risk management software in the financial services and commodities markets Strata Partners acted as exclusive financial adviser to Luxoft. We managed the full buyside execution process and deployed our specialist knowledge of IT consulting and systems integration companies as well as our understanding of the trading and risk management sector to advise Luxoft throughout the transaction process Our role also involved structuring an offer that addressed one of the main complexities of the transaction – that the majority shareholders of Excelian were not actively involved in the business. We were able to help Luxoft develop and negotiate a transaction structure that included several innovative mechanisms to retain and incentivise senior Excelian executives This transaction was our fifth cross-border deal in the last two years

Strata advised the shareholders of CgMs, the UK based planning consultancy, on its sale to RPS Group plc for £13.0 million.

Strata was exclusive financial adviser to Warburg Pincus International on their buyout by means of a carve-out of the third party software business of Emirates Group, trading as “mercator”. Transaction Overview Strata Partners advised Warburg Pincus, a leading global private equity firm with more than $37 billion in assets under management, on its carve out of Emirates Group’s third party airline IT business, trading as Mercator. Dubai-based Mercator provides software and tech-enabled outsourcing solutions to over 100 global and regional airlines Strata approached Warburg Pincus as the private equity firm best positioned to convince the Emirates Group to accept a buyout of Mercator, due in particular to Warburg Pincus’ carve out of WNS from British Airways in 2002* Strata positioned the opportunity with the Warburg Pincus team, who agreed to approach Emirates Group. Strata assisted Warburg Pincus in planning their approach, addressing Emirates Group’s initial concerns about selling to a private equity investor, and building the case that an investment by Warburg Pincus would also be a significant opportunity for Dubai as a leading global transportation and travel hub. Strata also provided Warburg Pincus with ongoing insight into the aviation software industry and provided support throughout the negotiation and due diligence phases of the transaction Warburg Pincus was able to obtain a majority shareholding in the new Mercator entity, with Emirates Group demonstrating their ongoing commitment to Mer‎cator by maintaining a substantial minority stake. No transaction value was disclosed Transaction Highlights This is Strata’s fourth travel & hospitality technology transaction since 2010‎; Strata has now undertaken transactions in hotel technology (sale of Amadeus Hospitality); airport software (sale of Zebra Technology’s airport software business); rail and public transport technology (sale of ecebs by thetrainline.com); and now aviation software and services The transaction was also Strata’s first deal in the Middle East

Strata advised Quintel, a developer of high-efficiency, high-performance multiband antenna solutions for mobile operators, on a $10 million financing round including investment from a strategic partner. Transaction Overview Strata Partners acted as the exclusive financial adviser to Quintel Solutions Ltd. (“Quintel”) in its $10m Series E Financing round led by existing investor Trillium International and joined by a major manufacturer of electronics and communication components and connectors (the “Strategic Investor”). The investment will enable Quintel to scale delivery capacity to maintain its recent 400% year-over-year revenue growth rate and to expand its international presence Quintel is an innovative leader in wireless network antenna technology development. Quintel’s products enable wireless operators to independently deploy and optimize multiple air interfaces and/or services on a single standard antenna platform. Quintel offers the only products that can increase a wireless network’s capacity and the number of services available without increasing the number or size of the antennas deployed. Quintel is headquartered in Rochester, NY with additional offices in California and the UK Transaction Highlights Strata assisted Quintel with not only achieving the financial goals set for the investment round, but also in managing the non-financial terms of an investment by the Strategic Investor, who is a supplier and manufacturing partner ‎of Quintel. In particular, Strata helped structure and negotiate investment terms (in the form of a detailed term sheet) that do not restrict the majority shareholders’ ability to exit the business to a third party if required Additionally, Strata was able to help the Strategic Investor get comfortable with a highly complex capital structure that included several classes of shares ‎with different liquidation preferences and participation rights. This also included developing a “management strip” of equity to ensure that management would participate in the success of the business fairly at different valuations in way

Strata Partners advised Bridgepoint Development Capital on its acquisition of outsourced, early stage drug development services provider, Quotient Clinical.

Strata advised Zebra Technologies Corp (NASDAQ: ZBRA, market value of approximately $2.4 billion) on the $10 million investment into ZBD Solutions, the UK based provider of electronic shelf labels for the retail market. Background Strata advised Zebra Technologies Corp (NASDAQ: ZBRA, market value of approximately $2.4 billion) on the $10 million investment into ZBD Solutions, the UK based provider of electronic shelf labels for the retail market The ZBD solution provides graphic displays, price and product information management software together with a two way wireless network Strata was exclusive financial adviser to Zebra on this transaction Zebra provides the broadest range of innovative technology solutions to identify, track, and manage the deployment of critical assets for improved business efficiency. Zebra serves more than 90 per cent. of Fortune 500 companies worldwide Zebra is headquartered in Chicago, USA, and reported revenues of c. $1 billion in 2012 Transaction Highlights The financing will be used to accelerate ZBD’s global expansion, in particular in the USA, and to fund continued product development The investment gives Zebra a material stake in a high growth company operating in a complementary sector and cements a strategic partnership that was announced simultaneously The holding structure of ZBD Solutions was complex, involving several different classes of ordinary and preference shares, subscribed at different share prices and liquidation preferences. Strata Partners negotiated an investment by Zebra at the top of the preference stack on terms that were satisfactory to all parties

Strata advised the shareholders of Melbourn Scientific Limited, a specialist pharmaceutical products testing business, on its sale to Intertek Group plc, a leading quality solutions provider to industries worldwide. Background Strata acted as exclusive financial adviser to the shareholders of Melbourn Scientific Limited (“Melbourn” or the “Company”) on its sale to Intertek Group plc, a leading quality solutions provider to industries worldwide Melbourn, a specialist pharmaceutical products testing business, is a privately owned UK company based near Cambridge where it employs over 80 scientists and staff The Company has built a strong reputation over the last 24 years providing world class testing and formulation services to the international pharmaceutical industry, with a focus on the testing and evaluation of nasally and orally inhaled drugs and their delivery systems such as inhalers and nebulisers Strata was hired because of our proven track record and established senior relationships across the global pharma services sector Transaction Highlights Strata structured, managed and successfully completed the transaction securing an exceptionally good result for shareholders at valuation substantially above that indicated by potential purchasers prior to Strata’s involvement Benefiting from its established sector relationships, Strata rapidly and discretely secured the interest of key potential purchasers worldwide – thereby ensuring competitive tension from the outset Meticulous planning and preparation, first class transaction execution and senior commitment and support were critical to ensuring a successful and timely outcome This is our 14th successful M&A transaction in the life science services and laboratory testing sector and underlines our position as Europe’s leading corporate finance advisory boutique in this space

Advised Fits.me on further investment from Conor Ventures and existing investors Transaction Overview Strata Partners acted as exclusive financial advisor to Fits.me, the leading provider of virtual fitting rooms and associated technologies to the fashion e-commerce industry, on an initial €1.5 million tranche of a Series A round of financing in January 2012 led by Entrepreneurs Fund, the London-based venture capital arm of the COFRA Group (which is also the holding company of global fashion retailer C&A) Since then, Strata advised on further tranches of financing totalling €2.0m in 2012 and early 2013 from Entrepreneurs Fund and existing and new angel investors from Estonia, Russia and Spain In March 2013, we advised a further investment round of €1.7m led by Conor Venture Partners from Finland. Including this round, Fits.me raised €5.2m in total from Jan 2012 to March 2013 Strata provided a committed, hands-on approach from inception through to completion of the initial investment: drafting and tailoring the business plan and strategy, approaching global institutional and corporate venture investors, preparation of management presentations, co-ordination of the other advisors, and helping manage the completion mechanics including the reincorporation of Fits.me in the UK. For subsequent rounds, we coordinated the cap raise process in conjunction with Fits.me’s legal advisers Fits.me was founded in Estonia and backed by Estonian Development Fund (EDF); the transaction is Strata’s first deal for a client from the Baltic region Strata managed to complete a complex capital raising: Company was still pre-revenue when we approached the Series A investors As part of the initial investment, Fits.me had to reincorporate in the UK and investors had to exchange shares in the NewCo simultaneously with completion of Entrepreneurs Fund’s investment Company Profile Fits.me provides an enabling software technology for fashion e-commerce sites. It is the leading provider of “virtual fitting

Advised Fits.me on further tranches of financing from Entrepreneurs Fund and new and angel investors from Estonia, Russia and Spain.

Advised Fits.me on Series A financing from Entrepreneurs Fund.

Strata was mandated by Sage Software ‎GmbH, the German subsidiary of the Sage Group, to review the highly fragmented German market for accounting, payroll and SME-focused ERP solutions. The purpose of the project was to provide an independent view of Sage’s competitive environment as an input into Sage’s strategic planning process Project Overview Strata was mandated by Sage Software ‎GmbH, the German subsidiary of the Sage Group, to review the highly fragmented German market for accounting, payroll and SME-focused ERP solutions. The purpose of the project was to provide an independent view of Sage’s competitive environment as an input into Sage’s strategic planning process Strata’s review included an analysis of the established software vendors in the German market and also new entrants, including SaaS-based startups. This was summarised in an in depth report delivered three months from the start of the project Project Highlights Strata undertook an assessment of all significant accounting, payroll and ERP software vendors active in Germany, which totalled over 700 companies. This involved reviewing all accounting and payroll software products accredited by the German tax administration, as well as researching products and companies listed by a wide range of German trade magazines and industry associations Of the 700 companies considered, Strata profiled over 50 significant market participants that might have had some relevance to Sage. These profiles included an initial assessment of their customer bases, distribution channels, technology, shareholders and management and financial performance About Sage The Sage Group plc is a leading global provider of business management software to small and medium sized companies. Formed in 1981 and based in Newcastle-upon-Tyne, Sage has been in the FTSE 100 since 1999. Sage has over 6 million customers and more than 13,500 employees in 24 countries worldwide Sage Software GmbH is one of the market leaders for

Advised Newbury Racecourse plc in relation to the Share Buy-Back of the 29.9% shareholding of Guinness Peat Group plc and the Waiver of Rule 9 of the Takeover Code. The transaction involved a loan from a director (a “related party” transaction) and a “Whitewash” from the Takeover Panel so that no general offer to all shareholders was required on account of the share buy-back. Transaction Overview Strata acted as the exclusive financial adviser to Newbury Racecourse plc (PLUS: NYR), the horse racing, entertainment and events business, advising about strategic options to deal with the 29.9 percent shareholding of Guinness Peat Group (“GPG”).  GPG had announced an intention to dispose of their UK investment portfolio including this 29.9 percent shareholding in the Company (“GPG Shares”) A loan from a Director was secured on favourable arm’s length commercial terms to fund the share buy-back Strata negotiated an implementation agreement with GPG to give certain deal protections to the Company.  In particular, GPG’s 29.9 percent shareholding was “locked up” until shareholder approval had been sought to effect the share buy-back.  However, the “lock-up” would fall away if a formal offer for the Company was announced or a “possible offer” was communicated to the Board with a price of at least 600 pence per share (compared to the share buy-back price of 450 pence per share).  This mechanism increased the certainty for the share buy-back to be completed (subject to shareholder approval) whilst also communicating to the market the price level at which the Board would contemplate entering into takeover discussions The principal reasons for the proposed share buy-back were to remove the uncertainty relating to the future ownership of the GPG Shares (a very material stake of 29.9 percent); to create a more stable shareholder base for the Company to execute its stated

Strata advised Trainline Investments Holdings Limited (parent company of thetrainline.com) on the sale of Advanced Smartcard Technologies Limited (trading as “Ecebs”). Transaction Overview Strata acted as the exclusive financial adviser to Trainline Investments Holdings Limited (“Trainline”), an Exponent Private Equity portfolio company and the parent company of thetrainline.com, the UK’s leading online rail retailer and rail information provider, on the sale of Advanced Smartcard Technologies Limited (trading as “Ecebs”), to Bell Identification N.V. (“Bell ID”), a provider of smart token management software for use in sectors such as secure banking, national identity and public transit based in Rotterdam, the Netherlands Ecebs is a leader in the design of high performance smartcards and the development of smartcard-based applications. Given Ecebs’ opportunities for growth outside the UK rail sector, Trainline decided it was not a core business for them and appointed Strata to sell it through a competitive auction process. Strata used its sector understanding to assist Ecebs in articulating its value proposition for potential buyers from the smartcard technology, public transport applications and payments industries, and approached a broad group of companies worldwide to find the right buyer No transaction value was disclosed  About Ecebs Established in 2000 and headquartered in East Kilbride, Scotland, Ecebs is a fast growing technology company that delivers world-class smartcard-based solutions across a broad range of markets, including transport, local government and financial services. Its 45 employees and contractors have deep domain expertise in smartcard technologies, with the founding team having played a major role in establishing key smartcard standards and technologies at Motorola’s smartcard division prior to setting up Ecebs Ecebs’ proprietary Multefile platform is a highly secure smartcard operating system that enables a single smartcard to hold multiple applications including EMV payments, public transport ticketing, government benefits and proof of ID. Based on Multefile,

Advised the shareholders of ScreenSafe UK Limited, one of the UK’s leading providers of workplace drug and alcohol testing services, on its sale to Ingemino Limited, a lab sector buy and build vehicle founded by Keith Tozzi and Fiona Begley.

Strata were the exclusive adviser to Carclo plc (LSE: CAR) in a review of strategic options for its wholly owned subsidiary, Conductive Inkjet Technology business.

Advised Allocate Software plc (LSE:ALL) on the acquisition of RealTime Health Ltd.

Advised Allocate Software plc on the acquisition of Zircadian Holdings Limited.

Advised WorldOne, a high-growth provider of data collection services to the healthcare industry, on a $25m investment by Kennet Partners to support its global expansion. Background WorldOne delivers global services to its customers in the healthcare market research sector, delivering access to the worldwide healthcare community. Since its establishment in London in 2000, WorldOne has developed a panel of 500,000 physicians and 200,000 healthcare professionals enabling the company to deliver large-scale projects in 80 countries. In 2010, WorldOne completed over 300,000 interviews with medical professionals for almost 2,000 market research projects Kennet Partners invested $25 million in WorldOne. The financing will be used to accelerate WorldOne’s global expansion and to fund continued development of new business lines as well as enabling some of the founding shareholders to realize a proportion of their equity Kennet is a leading international growth equity firm that invests in companies in Europe and North America Strata was exclusive financial adviser to WorldOne on this transaction Transaction Highlights Key features of how Strata ran the process included: Informal introductions to high quality growth equity firms in advance to the process Built an investment case (including drafting the management presentations) and detailed financial model Approached key US and European investors: term sheets received from three US funds and one European fund Organised and collated information needed for data room Identified potential weaknesses to investors in advance (no pre-empts) Strata modelled each offer “side by side” – this enabled WorldOne’s shareholders to understand the terms on offer clearly and enabled us to leverage one investor on other to extract the best possible terms for our client

Advised Zebra (NASDAQ:ZBRA) on the sale of its Airport IT operations – Proveo (Zebra Enterprise Solutions GmbH), to a private company which is part of the Aviance Alliance. Transaction Highlights Strata advised Zebra Technologies Corp (NASDAQ: ZBRA, market value of approximately €2 billion) on the sale of its Airport IT operations, known as “Proveo”, to a private company which is part of the Aviance Alliance Strata Partners acted as exclusive financial adviser to Zebra to undertake a review of strategic options for the Proveo business, which it had acquired in July 2007 for a consideration of €11.5 million Based on Strata’s sector knowledge and carve-out experience, we ran a successful structured, competitive process for Zebra Contacted a wide group of carefully selected potential buyers and/or investors Ensured confidentiality of the process to avoid any operational disruption to the business Assisted management in the preparation of pro-forma financial statements and forecasts Coordinated due diligence and other advisers to the company No transaction value was disclosed Company Profile Proveo is the leading supplier of integrated Real Time Locating Systems (RTLS) solutions (hardware, software and services) to ground handlers, airlines and airport operators, which allows the real-time visualisation and monitoring of Ground Support Equipment (GSE) and other equipment and vehicles. The company had a global customer footprint with 20 installations at leading airports (e.g. Abu Dhabi, Dubai, Heathrow, Munich, Singapore) and offices in Germany and the Middle East Zebra provides the broadest range of innovative technology solutions to identify, track, and manage the deployment of critical assets for improved business efficiency. Zebra serves more than 90 percent of Fortune 500 companies worldwide Zebra is headquartered in Chicago, USA, and reported revenues of $983 million in 2011

Strata advised Aurix Ltd, a global provider of phonetic speech search and analytics technology on its sale to Avaya Inc Transaction Overview Strata acted as exclusive financial advisor to Aurix Limited, a global provider of phonetic speech search and audio data mining technology to the contact centre and e-discovery markets, on its sale to Avaya, a global provider of business communications and collaboration systems and services Aurix was originally a spin out from QinetiQ, and its phonetic speech search engine is based on a world-class capability in speech recognition developed over three decades by the UK MOD’s DERA research facility and QinetiQ Aurix’s technology represents a break-through in speech analytics by enabling the real-time identification, searching and data mining of huge volumes of audio and audio-visual material, without the need for massive computer power As a venture backed company with globally leading technology, but lacking in scale, Aurix was loss-making. Strata focused on positioning Aurix with global leaders in the contact centre technology and e-discovery markets well in advance of launching a formal sales process. Through extensive interaction with a number of major potential acquirers, including Avaya, through 2010 and early 2011, we ensured that key bidders were familiar with the technology and its potential before receiving information on Aurix’s financial performance Deal Highlights Mapping out the competitive landscape in Enterprise Communication, Contact Centre WFO, E-Discovery Software and Business Information & Analytics markets in Europe and North America; and utilising Strata’s senior relationships with leading players in those markets to position Aurix as a technology leader with high growth potential Managing a complex M&A process involving: A minority strategic investor with extensive pre-emption rights A change in Aurix’s majority shareholder during process (the VC fund’s general partner was changed by the limited partner in the midst of our work on

Advised Allocate Software plc (LSE:ALL) on the acquisition of RosterOn Pty Limited.

Advised LGC on the acquisition of KBioscience to create a market leader in genomic services and solutions Transaction Overview Strata acted as exclusive financial adviser to Bridgepoint-backed, international lab testing group LGC on the combination of LGC’s Genomics division with leading single-plex genotyping solutions provider KBioscience by way of acquisition to create a market leader in genomic services and solutions The transaction enabled LGC to transform the smallest of its four divisions into a differentiated international genomics products and services business with strong growth prospects and attractive margins The founders of KBioscience remain partners and significant shareholders in the enlarged business alongside LGC LGC was acquired by funds managed by Bridgepoint for some £257 million in February 2010 Transaction Rationale Highly complementary services, products and customers in adjacent areas of the genomics market LGC expertise in high throughput / automated sequence analysis for discovery KBioscience expertise in bespoke / low to medium throughput genotyping Similar highly scientific cultures and premium quality reputations Enables the provision of broader but complementary suite of services and solutions to an enlarged customer base Limited geographic overlap KBioscience strong in UK and North America LGC strong in Continental Europe and Asia LGC benefits from entrepreneurial culture and cost / client service focus of KBioscience KBioscience benefits from LGC’s global network and administrative resources Access to capital to drive sector consolidation Critical mass to resource future R&D strategy

Advised Oxatis S.A. on the acquisition of certain assets of Actinic Software Limited Transaction Highlights Oxatis S.A. (“Oxatis”), the largest provider of e-commerce services to small & medium enterprises in France, Italy & Spain, acquired the brand, domain names and SaaS customer contracts of Actinic Software, the UK’s leading e-commerce software provider to small & medium enterprises As part of the acquisition, Oxatis and Actinic have entered into a multi-year strategic partnership agreement in order to jointly transition Actinic’s licence-based e-commerce software customers to Oxatis’ SaaS solution. Both companies will collaborate to win new customers in the UK for Oxatis’ SaaS solution, while allowing those customers who are committed to a licence based solution to continue to rely on Actinic’s software suite Strata Partners acted as exclusive financial adviser to Oxatis on its UK M&A strategy. Strata mapped out the competitive landscape in e-commerce technology in the UK market and identified and approached the most appropriate potential targets for Oxatis. Once it became clear that Actinic provided the best potential fit, Strata managed the full buyside execution process, including the negotiation of a very detailed termsheet outlining the key terms of the Asset Purchase Agreement, Strategic Partnership Agreement and Transition Services Agreement with Actinic and its shareholders The complexity of the deal and the unusual deal structure (which involved a multi-year agreement to incentivise Actinic to transition their customer base to Oxatis, highlight Strata’s commitment to providing a high quality service to its customers even on a small transaction as part of creating long-term relationships with future European technology leaders Company Profile Oxatis was established in 2001 in Marseille, France, by a team led by Marc Schillaci, who had been a successful pioneer of e-commerce software in the US in the 1990s. Oxatis’ powerful cloud-computing technology and pan-European growth strategy

Strata advised the shareholders of MinPlus-CDEM Group B.V. on its split sale to Voith AG, a leading supplier of process equipment to the global paper industry and AVR, a private equity backed Dutch Waste-to-Energy company. Background Strata acted as exclusive financial adviser to the shareholders of the Minplus-CDEM group of companies (“MinPlus-CDEM”) on the carve out and sale of the patent portfolio and related process technology to Voith AG. As part of the overall transaction, an incineration plant at Duiven, Netherlands was also sold to the KKR-backed waste processing company AVR MinPlus-CDEM had developed a unique thermal conversion technology that produces zero-carbon, green energy and valuable mineral products from industrial wastes that would otherwise require landfill or incineration at high cost MinPlus-CDEM comprised: a waste-to-energy plant in Duiven a product trading company in the United States, and An intellectual property holding company owning both design and product patents Strata was hired because of our proven track record and established senior relationships within the cleantech / renewables space and our additional relationships with major industrial groups worldwide. Strata was also chosen for its capability to structure and execute complex, multi-jurisdictional transactions involving an extensive universe of potential buyers /  investors Transaction Highlights Strata structured, managed and successfully completed a complex carve out, multi-jurisdictional transaction with two parties simultaneously, securing an exceptionally good result for shareholders Through senior relationships with both multinationals and Private Equity players, Strata rapidly secured the interest of key potential purchasers and investors – thereby ensuring competitive tension from the outset Through rigorous structuring, an exceptional value outcome was achieved – selling the patent portfolio to one of the largest strategic players in the sector, simultaneously selling the waste-to-energy plant to a PE backed waste company while keeping ownership of the operating product company, thus enabling a potential

Strata acted as exclusive financial adviser to the shareholders of the M-Scan Group of Companies, an international life science laboratories group, on its sale to SGS, the global inspection, verification, testing and certification group.

Strata advised Amadeus IT Group S.A. (CATS:AMS) on the sale of its hotel property management systems (PMS) and restaurant point of sales (POS) software division to SoftBrands, an affiliate of Infor Global Solutions. Transaction Highlights Amadeus IT Group S.A. (“Amadeus”) sold its hotel property management systems (PMS) and restaurant point of sales (POS) division (“Amadeus PMS Division”) to SoftBrands, an affiliate of Infor Global Solutions, one of the leading providers of business software for mid-market companies Amadeus PMS Division is one of the largest vendors of hotel PMS and restaurant POS software in Europe, the Middle East, Africa, Asia and South America, with more than 4,200 hotel and restaurant clients. The transaction involved the sale of Amadeus’ principle PMS-focused subsidiary, Amadeus Hospitality S.A.S. (based in Evry, France and formerly known as “Optims”), together with subsidiaries in Austria, Finland, Germany, Singapore and Spain and certain other PMS and POS related activities in Europe, Australia, Brazil, India and Thailand Strata Partners acted as exclusive financial adviser to Amadeus (market value of approximately €6 billion) on the disposal of Amadeus PMS Division No transaction value was disclosed Company Profile Amadeus is a leading transaction processor for the global travel and tourism industry, providing transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline) Amadeus is headquartered in Madrid, Spain and reported revenues of €2,461 million in 2009

Advised Allocate Software plc (LSE:ALL) on £9.0m acquisition of Dynamic Change Limited, the UK based Software-as-a-Service provider of corporate performance management for the UK healthcare sector.

Strata advised Newbury Racecourse plc (PLUS: NYR) on its £6.4 million fully underwritten rights issue and successful rump placing. Transaction Highlights The documentation included complex valuation reports relating to the potential value of the property development contract to the Company (relating to the property redevelopment project at the Racecourse site) Preparation of a full prospectus and a separate circular – the documentation had to be structured and presented in an “easy to understand”  format given that the Company had a large number of private shareholders Rights issue required a waiver from Rule 9 of the Takeover Code Complex execution of a rights issue, underwritten by the existing major shareholders at a 33% discount to the TER price A supplemental prospectus was required given positive planning permission in relation to the property redevelopment project at the Racecourse during the rights issue Sensitivities between the Company and its largest shareholder which had launched an unsuccessful hostile offer  in 2007 and requisitioned an EGM to remove the Chairman Detailed implementation agreement  negotiated and agreed with major shareholders Protections for the Company prior to and after the Rights Issue vs. the influence of its major shareholders Take-up: The Rights Issue was taken up by some 68% of Newbury shareholders Successful Rump Placing: Unallocated shares (the rump) was fully sold in a book built process which introduced new investors to the Company at a 25% premium to the Rights Issue price Company Profile Newbury Racecourse plc owns and manages Newbury Racecourse, hosting c. 30 days of racing per annum including the Hennessy Gold Cup.  The Company is quoted on PLUS and has a current market capitalisation of £29 million* *As at 22 February 2010

Strata advised Creativity Software Limited, a UK-based provider of Location-Based Services infrastructure and applications, on a growth capital private placement  Transaction Highlights Leading supplier of End-to-End Location Based Services (LBS) solutions to Mobile Network Operators (MNO) Global operations Customers include Motorola, Roshan, MTN, Huawei, America Movil and Starcomms Network agnostic – GSM & CDMA, 2G and 3G One of only a few full service providers of LBS services to MNOs Strata hired to act as Creativity Software’s exclusive financial advisor to Advise the company on fundraising matters Execute the company’s fundraising strategy Manage negotiations with investors and bring all parties to agreement on terms Provide support to the management team Marshall the due diligence process to ensure rapid completion of the funding round Key Strata Expertise Local, recent knowledge of the fundraising landscape Deep understanding of the market for LBS Growth capital placement successfully completed April 2010 MMC Ventures led the funding round Company Profile Location based services solutions for mobile network operators Creativity Software provides Location Based Services (LBS) solutions to mobile network operators. Its product offering allows operators to calculate the location of a mobile phone and monetise that capability with a range of consumer facing applications as well as meet regulation driven by the emergency services. Its target customers are mobile phone operaters in emerging markets

Advised Allocate Software plc (LSE:ALL) (formerly Manpower plc), on £12.4m acquisition of Time Care AB and £8.3m placing.

Strata advised Whitfield Solar Limited, a UK-based developer of photovoltaic solar concentrators, on a £2.7 million private placement.  Solar Photovoltaic Concentrator Company spun out of Reading University Pre-revenue Strong technology heritage ‘Fab-less’ manufacturing model Strata hired to act as Whitfield’s exclusive financial advisor to Advise the company on fundraising matters (e.g. appropriate milestones in relationship to funds sought) Prosecute the company’s fundraising strategy – market the company to new investors globally Manage an existing complex shareholder base Provide support to the management team Key Strata Expertise Local, recent knowledge of the fundraising landscape Deep understanding of ‘turn-ons’ and ‘turn-offs’ for investors Solid appreciation of the challenges of manufacturing roll-out £2.7 million placement successfully completed November 2009 Bulk of this round came from a new lead investor (undisclosed identity) Balance from existing investors

Advised Veeda Clinical Research on the sale of Veeda Laboratories, a specialist provider of biomarker laboratory services to global pharmaceutical and biotechnology industries to ICON plc. Background Veeda Laboratories Ltd., a wholly owned subsidiary of Veeda Clinical Research Group was sold to ICON plc, a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries Veeda Laboratories is a specialist provider of biomarker laboratory services to global pharmaceutical and biotechnology industries Veeda Clinical Research is a full service global CRO specializing in the early clinical development of drugs. With state-of-the-art facilities in the UK, India and Belgium, Veeda provides a full range of services in Phase I and IIa clinical research, delivering expert, cost effective research solutions to the Pharmaceutical and Biotechnology Industries worldwide  Transaction Highlights Strata structured, managed and successfully completed a highly competitive sale process Strata was able to secure the interest and attention of a large buyer universe Planning and preparation and the use of competitive tension were key to extracting maximum value The transaction significantly exceeded shareholder value expectations The transaction demonstrated Strata Partners’ extensive knowledge of the global CRO and the lab testing industry, senior relationships with leading pharma service industry players worldwide and our first class transaction execution skills

Advised Manpower Software plc (AIM: MNS), the UK AIM listed workforce optimisation software company, on the acquisition of Baum Hart & Partners, an integrated software systems, consultancy and services provider, principally to the UK National Health Service.

Advised the shareholders of Simbec Holdings Ltd on the sale of Simbec Research Limited, a clinical research organisation, to Algorithme Pharma, based in Laval, Quebec Transaction Highlights Simbec Research was sold to Canadian contract research organisation Algorithme Pharma in August 2008.  The transaction provided an exit for the management buyout team who had acquired the business from Merck in 2002 Strata Partners structured, managed and successfully completed a cross border sale process against a backdrop of increasing economic uncertainty in the weeks before the collapse of Lehman Brothers The transaction delivered shareholder value expectations.  Recognising the deteriorating global economic outlook, Strata negotiated significant downside protection in favour of the vendors Strata was appointed by Simbec’s shareholders to replace two well known corporate finance firms who had failed to deliver a sale over the preceding 24 months despite significantly more favourable market conditions The transaction demonstrated Strata Partners’ extensive knowledge of the global CRO space, senior relationships with leading pharma service industry players worldwide and our first class transaction execution skills Company Profile Algorithme Pharma, is a leading Canadian contract research organisation that focuses on bioequivalence and Phase I/IIa clinical trials Established in 1976, Simbec offers Phase I to Phase IV clinical research services in the UK and internationally, with a particular emphasis on Phase I and IIa development

Advised The Capita Group plc (LSE: CPI), the leading provider of business process outsourcing and professional support services and FTSE 100 company, on the successful £77.7 million recommended cash offer for IBS OPENSystems Plc (AIM: OPN).  Transaction Highlights IBS OPENSystems plc, a London AIM market listed company, was acquired by the Capita Group, the UK FTSE 100 listed business process outsourcing company, for a total consideration of some £78million IBS OPENSystems plc was a leading provider of software systems and related services for the management of social housing (commonly known as ‘housing systems’) and the collection and payment of revenues and benefits (commonly known as ‘revenues’ or ‘revenues/benefits systems’) to local authorities and housing associations in the UK The acquisition of IBS OPENSystems will add to the breadth and depth of Capita’s existing capabilities, particularly in the provision of housing systems for local authorities and housing associations Strata Partners acted as the exclusive financial adviser to Capita, advising about all aspects of the public offer The team at Strata met an extremely tight timetable and gave insightful strategic advice about potential competing offerors Company Profile The Capita Group plc (LSE: CPU), is a leading provider of business process outsourcing and professional support services. A FTSE 100 company, Capita is quoted on the London Stock Exchange, with a market capitalisation of approximately US$ 8 billion

Advised Novel Polymer Solutions Ltd, a UK-based developer of high performance polymer materials, on a £5 million private placement. Organic polymer technology company based in Malvern, UK Strata hired to run a private placement process to raise £5 million Demonstrable knowledge of key enabling technologies Access to the right investor community Heavy lifting on running the process – scheduling, writing, presentation, etc. Strategic advice Support for management team £5 million placement successfully completed May 2008 Led by new investor Environmental Technologies Fund (ETF) Balance from existing investors and management

Advised Solarsoft Acquisition Limited, a company formed at the direction of Marlin Equity Partners LLC, a US-based private equity firm, on the recommended $35 million cash offer for Chelford Group plc (AIM: CHR) Transaction Highlights Chelford Group plc, a London AIM market listed company, was acquired by Solarsoft Business Systems,a company controlled by Marlin Equity Partners, for a total consideration of some $35 million Chelford was a leading provider of specialist solutions in the areas of supply chain management, ERP, manufacturing, warehousing and distribution, asset tracking and financials The acquisition expanded Solarsoft’s scale of its operations, the range of its product offering and vertical market expertise Strata Partners acted as the exclusive financial adviser to Marlin and Solarsoft, advising about all aspects of the public offer The team at Strata met an extremely tight timetable with less than 4 weeks from appointment by the client to posting of the offer document Company Profile Solarsoft Business Systems is a supplier of ERP software and IT services to manufacturers, distributors and wholesalers. It has a customer base of over 1,700 companies and employs in the order of 350 staff in Europe, North America  and Asia Marlin Equity Partners is an independent US-based private equity firm. In November 2007, Marlin announced the closing of a new $300 million institutional private equity fund

Advised Logan-Orviss International on the sale of its telecoms consulting business to Patni Computer Systems Inc (NYSE: PTI), a global provider of IT services and business solutions Transaction Highlights Logan-Orviss International sold its specialist telecommunications consulting services business to Patni Computer Systems Inc (NYSE: PTI), the Indian provider of IT Services and business solutions listed on the New York Stock Exchange, for 1.9 times historic revenues including earn outs related to future performance of the business The acquisition strengthened Patni’s capability in its communications and media practice enabling it to provide operators with thought leadership and operational transformation consulting for mission-critical IT initiatives Strata Partners structured, managed and successfully executed the sale process involving a number of large international bidders from Europe, India and the US and advised Logan-Orviss on tactical aspects of the transaction such as key management incentivisation The success of the transactions demonstrates Strata’s commitment to providing first class advisory services to private, owner-managed companies and its ability to secure the interest and attention of a large, international buyer universe Company Profiles Logan-Orviss International is a leading provider of telecommunications consulting services. Since being founded in 1995, Logan-Orviss International has successfully delivered more than 200 projects for Operators in over 40 countries, including Vodafone, Telstra, VimpelCom, Eircom and KPN Patni Computer Systems Ltd (NYSE: PTI) is a global provider of IT services and business solutions, servicing Global 2000 clients. Patni has an employee strength of over 12,000; multiple global developmental centres spread across 12 cities worldwide; 21 international offices across the Americas, Europe and Asia-Pacific. Patni has registered revenues of US$ 579 million for the year 2006

Advised Eurofins (Euronext: ERF-FR) on its €28 million outsourcing agreement to provide regulatory water testing and sampling services to Southern Water, a provider of water and waste water services to more than four million people across South East England.

Strata advised Bristol University on the sale of its OFDM intellectual property portfolio to Wi-Lan Inc (TSX: WIN), the leading Canada-based licensor of intellectual property for the wireless and wireline telecommunications markets.

Strata advised SoftM Software and Beratung AG (XETRA: FTM), the listed German provider of enterprise software and IT infrastructure for SMEs, on the acquisition of the assets of Semiramis Software Group, a leading developer of Java-based ERP software. Transaction Highlights Strata Partners advised SoftM Doftware und Beratung AG (XETRA: FTM), the listed German provider of enterprise software and IT infrastructure for SMEs, on the acquisition of the assets of Semiramis Software Group Semiramis was a leading developer of Java-based ERP software for SMEs The acquisition of Semiramis positioned SoftM as a leading provider of Java-based ERP software in Germany, Austria and Switzerland Strata Partners acted as the exclusive financial adviser to SoftM, advising about the offer as well as strategic aspects to the transaction Company Profile SoftM is a leading provider of enterprise software and IT infrastructure for SMEs. SoftM was founded in 1973 and serves more than 4,000 customers with 500 employees in Germany, Austria, Switzerland, France, Poland and the Czech Republic SoftM is listed on the Prime Standard in Frankfurt (XETRA: FTM)

Advised ZAO Sistema Telecom (RTS: AFKS) on the acquisition of a controlling stake in WaveCrest Group Enterprises Limited, a global provider of long-distance telecommunications services. Transaction Highlights Strata advised Sistema Telecom, the London and Moscow listed largest private sector consumer services business in Russia and the CIS, on its acquisition of a 66% stake in WaveCrest Group Enterprises Ltd for a total cash consideration of c.US$ 40 million The acquisition of a controlling stake in WaveCrest was Sistema’s largest telecoms investment to date Transaction announced in March 2006 and closed, following regulatory approval, in October 2006 Over and above the execution of the actual transaction, Strata’s strategic advice with respect to the acquisition was a key part of the service provided to the client Company Profile WaveCrest is a global provider of long-distance telecommunications services to international carriers and residential customers in the UK, Republic of Ireland and Scandinavia, pioneering the use of VoIP technology for international voice traffic WaveCrest carried more than 300 million minutes of voice traffic per month and has an established switching presence in cities across Europe. It generated revenues of c. US$ 280 million in 2005

Advised TTP Communications plc (LSE: TTP) on a $15 million private placement in respect of ip.access, a developer of femto GSM cells. Transaction Highlights ip.access Ltd, a subsidiary of leading Cambridge technology company TTP Communications plc (LSE: TTP), raised $15 million in a private placement transaction led by Scottish Equity Partners and including Intel Capital and Rothschild Gestion The process was driven by the need to provide sufficient funding to realise ip.access’ full potential in a competitive and rapidly evolving market place Strata Partners provided a committed, hands-on approach from inception through to completion: drafting and tailoring the business plan, preparation and revision of the financial model, approaching global equity investors, preparation of management presentations, co-ordinating the investor syndicate, structuring management incentives and managing the completion mechanics Company Profile ip.access is the leading provider of GSM/WCDA in-building infrastructure solutions – pico cells and femto cells – using standard broadband IP networks for backhaul.  The company’s solutions enable increased revenue capture opportunities for  operators and improved service quality for customers ip.access, together with its parent company TTP Communications plc, was acquired by Motorola in June 2006

Strata advised Eurofins Scientific Group S.A. (Euronext: ERF-FR) on the acquisition of Agrisearch Ltd, one of Europe’s leading independent agricultural research organisations with facilities in the UK, France, Spain and Italy.

Strata advised Eurofins Scientific Group S.A. (Euronext: ERF-FR) on the acquisition of the GMSS public analyst business of Bureau Veritas / Casella.

Advised Eurofins Scientific Group S.A. (Euronext: ERF-FR) on the acquisition of Direct Laboratory Services Ltd, a leading provider of testing and research services to the food and agricultural sectors.

Strata Advised IBS AB (STO: IBS B), the Swedish supply chain management company, on the $98 million sale of its UK subsidiary, IBS (Public Services) Limited, and admission to AIM through a ‘Bought IPO’. IBS (Public Services) Ltd is a leading provider of software and services to Local Governments and Housing Associations. Strata was mandated by IBS AB, a Swedish publicly listed company specialising in supply chain management software, to sell their non-core UK business, IBS (Public Services) Ltd Strata identified IBS (Public Services) Ltd as a highly valuable company which was not recognised in the valuation of the parent company by the Swedish stock market Having previously received an informal offer for the non-core UK business, IBS AB mandated Strata as their exclusive financial adviser to assist in the sale of IBS (Public Services) Strata maximised value for IBS AB by price tensioning through a dual track trade/accelerated IPO sale process that involved trade and financial buyers Multiple offers were received and the auction process (and resulting accelerated IPO of IBS OPENSystems) achieved exit multiples in line with publicly quoted competitors and c. 3x more than the original offer received

Strata advised Archos S.A. (Euronext: JXR-FR), the manufacturer of portable multimedia devices and one of the main competitors to Apple’s iPod, on a private placement into the public entity.

Advised HighWave Optical Technologies S.A. (Euronext: HGH-FR) on the acquisition of Northlight Optronics AB, the Swedish developer and manufacturer of optical transmitters, receivers and fibre amplifiers for high speed LAN and long-haul applications.