DWF's UK Corporate team advised private equity firm Inflexion on the sale of its majority investment in award-winning software business, Mobica, to US-based, NASDAQ-listed business, Cognizant.The transaction values Mobica at £250 million.
Founded in 2004, Mobica is a Manchester-headquartered company which aims to provide their global client base, consisting of household names such as Google, Dyson, Meta, BMW and Samsung, with software engineering and development capabilities.
Inflexion invested in Mobica in 2015 as a Partnership Capital minority stake, and has since supported investments into sales and software engineering to drive Mobica's global operational efficiencies and accelerate its multi-site growth.
DWF's Corporate team advised Inflexion and Mobica's management team on the sale, led by London partner Paddy Eaton and Manchester partner Will Munday, alongside director Liz Clark and associates Kartik Monga and Anthea Nelson. Tax advice was provided by Manchester partner, James Cashman.
Paddy Eaton said: "Inflexion have a strong understanding of the importance of maintaining a business' vision and culture, and after their eight year investment, we are delighted to support Inflexion and the Mobica management team on this exciting transaction."
David Whileman, head of partnership capital at Inflexion, said: "The leadership team at Mobica have done a tremendous job in growing the business into a leading global player within its specialised software engineering niche. We are proud of the increase in the capabilities of the business and expanded geographic footprint during our partnership and are confident that it will continue to grow and develop."