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KPMG’s Quarterly Northern Tech Investment Barometer

by Shelley Langan|21st July 2017

KPMG released their July report on Northern Tech Investment (Q2 2017).  The report details a roundup of strategic investment into tech businesses in the North of England.

Eight out of the top ten highest growth investments were in Software companies, and half of them were in Fintech.

Highlights include:

  • Northern tech investment remained strong in Q2 with more than £100m invested across 41 companies during the period. Atom Bank again captured attention, receiving an additional investment of £30m from the British Business Bank in Q2 following on the heels of its £83m fundraise in Q1.
  • The market for Northern based software companies, especially Fintech providers, remains strong.
  • Northern Medtech businesses also received impressive investment in the quarter, most notably the Now Healthcare Group and EnXray. Further, US Fortune 500 member, Stryker, opened a new 4,000 sq. ft. office in Didsbury as part of its integration strategy following the 2016 acquisition of Imorphics, a Manchester based medical imaging company.
  • April the North’s largest digital festival took place – the Leeds Digital Festival highlighted the depth and breadth of the growing Yorkshire technology ecosystem, with sold-out events featuring prominent speakers in Fintech, cyber security, start-ups, and data analytics.
  • On the international stage, several US lead acquisitions of Northern tech businesses underpins the vitality and attractiveness of the Northern tech market, these include Access UK (backed by the US private equity group TA Associates) acquiring Sheffield based HR software company Selima and Energy Services Group (backed by US private equity group Accel-KKR) acquisition of Manchester based utilities software provider Utiligroup.

Read the full report here.

Graham PearceGraham Pearce, Head of Technology, Media and Telecommunications in the North at KPMG and member of the Board of NorthInvest. Graham leads KPMG’s technology, media and telecommunications sector business in the North. He specialises in advising on M&A transactions and also is supported by a multi-disciplinary team of industry specialists across tax, advisory and audit within KPMG