Trepp was founded in 1979 and acquired by the Daily Mail and General Trust plc in 2004.

It has grown into a provider of data, insights and technology for the structured finance, commercial real estate and banking industries.

Rothermere Continuation Holdings, parent company of DMGT, agreed the sale to Fitch Group, a global leader in financial information services.

The timing of completion is subject to satisfaction of customary closing conditions, including regulatory clearance.

Lord Rothermere, executive chairman, commented: “We acquired Trepp more than two decades ago and I am immensely proud of Annemarie DiCola (pictured) and her team for building a world-class digital information business.

鈥楲osing our dads at a young age is what drives incentifi鈥�

鈥淔itch will be a brilliant long-term custodian for Trepp. It has the pedigree and experience to drive the next stage of Trepp鈥檚 growth.

鈥淚 have no doubt that Trepp鈥檚 employees and customers can look forward to the future with confidence under Fitch鈥檚 ownership.鈥�

Centerview Partners and Goldman Sachs acted as financial advisers and Baker McKenzie as exclusive legal adviser to RCHL during the disposal process.

Version 1 swoop for CreateFuture 鈥榗reates 鈧�500m powerhouse鈥�

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Dublin-based Version 1 said the deal – for an undisclosed amount – creates one of Europe’s largest digital transformation leaders with revenues of more than 鈧�500 million and 4,250 employees.

Version 1 was founded in Ireland in 1996. It has 3,700 employees globally with revenues exceeding 鈧�400m.

CreateFuture, formerly known as xDesign, is a technology services firm of 550 professionals working with clients in highly regulated industries including iGaming, financial services and utilities. It has offices in Edinburgh, Glasgow, Leeds, London and Sofia.

“This acquisition is a strong strategic fit for Version 1, strengthening our capabilities and expanding the markets we serve,鈥� said Roop Singh, CEO.

鈥淐reateFuture is an exceptional business, with high鈥慶alibre talent, deep client relationships and sector expertise that directly complements our own. They have built something genuinely impressive for clients, leveraging AI鈥慸riven capabilities with a flexible and agile approach, and have delivered sustained growth ahead of the market.

鈥淭his is a growth acquisition and reflects exactly where we are as a business, confident in our people, clear on our strategy and ready for what comes next.鈥�

Deadline extension for 老九品茶Cloud鈥檚 Founder 250 list

Euan Andrews, founder of CreateFuture, said: “We started CreateFuture 16 years ago with a simple belief that the best work happens when great people are trusted to do great work for clients who care about the outcome.

鈥淭hat belief has not changed, and this partnership accelerates our ambition for CreateFuture with a highly culturally aligned partner in Version 1. It enables us to better serve our clients with enhanced capability and scale whilst unlocking significant opportunities for our team members.

鈥淚 am genuinely excited about what this means for our people, for our clients, and for the next chapter of the business we have built together.”

The CreateFuture leadership team will remain in place. Completion of the acquisition remains subject to receipt of customary regulatory clearances.

Speed wins: why decisive SMEs are outpacing cautious competitors

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Ownership of Podium, a digital marketing agency specialising in SEO, PPC and social media management, has transferred to Sarah McKevitt, Lia Gordon and Katie Toman.

Founder and managing director Andy Thevarokiam, who set up the company in 2012, is stepping back from day-to-day leadership.

McKevitt, Toman and Gordon have held long-standing roles within the company and have been closely involved in its growth and client delivery over a number of years. They will now jointly lead the next phase of the business, with a focus on continuity for clients and further development of the agency鈥檚 offering.

The buyout ensures the company remains independent and rooted in Newcastle. The company is planning to increase their local client base by 20% over the next 12 months.

The transition marks a planned shift in leadership, with Thevarokiam remaining involved while handing over operational control to the new ownership team.

Seri枚s’s role in Sunderland AFC’s success

鈥淭his decision comes with a great deal of pride. It鈥檚 not goodbye, but the start of something new. Sarah, Lia and Katie have been central to the business for years and know it inside out,鈥� said Thevarokiam.

鈥淭he service and results our clients expect will remain unchanged, with fresh energy driving the next phase. The business is in safe hands, and I鈥檒l continue to support the team as they take it forward.鈥�

McKevitt said: 鈥淭he chance to lead a business I’ve helped shape since 2017 was an opportunity I couldn’t pass up.

“We are staying true to the values Andy instilled, exceptional results and a modern, flexible workplace, while pushing the boundaries of what we can achieve for our clients over the next 12 months.鈥�

Being your own boss means there鈥檚 no off switch

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Wootzano, once considered one of the brightest lights in the North East tech scene, is facing shutdown after a court order initiated by Innovate UK Loans froze its bank accounts for months.

Founder Dr Atif Syed labelled the scheme – ostensibly a supporter of innovative UK companies – an 鈥渋nsolvency accelerator鈥� last year on social media.

With Wootzano subject to insolvency proceedings initiated by Innovate UK Loans, a source told 老九品茶Cloud that a hearing is scheduled at the Court of Session in Edinburgh – Scotland鈥檚 supreme civil court – today at 10am.

The source added that its bank accounts remain frozen, leaving it unable to fund a legal appeal.

鈥淭he joint liquidators鈥� report submitted to the court identifies c.拢237m of contracted distribution agreements, confirming a substantial underlying commercial foundation,鈥� it said.

鈥淎s a result of the legal process in Scotland, its accounts were frozen, which in turn prevented the company from funding legal representation to challenge the action and it has taken several months to return the matter to court.

鈥淭aken together, this raises the question of whether the current enforcement of government-backed innovation loans is pushing viable tech companies into insolvency due to process rather than performance.鈥�

Dr Syed highlighted this last year as a 鈥減rocedural trap鈥� and said Innovate UK Loans Limited, part of UK Research and Innovation (UKRI), had petitioned the court to wind up his company.

He said last year that the move put the company in an impossible position under Scottish legal rules: 鈥淚n Scotland, a company cannot speak in court without a solicitor.鈥�

Wootzano had developed robots with a ‘sensing skin’ for fruit and vegetable packing and had expanded into the United States.

Dr Syed added: 鈥淎 functioning DeepTech company can be silenced without ever being heard. This is not how innovation should die.鈥�

The business took out an Innovate UK Innovation Loan worth 拢838,000 in 2022.听

Dr Syed said the product was positioned as 鈥減atient, flexible capital for high-growth innovators鈥�, with flexibility built into the contract.听

However, he claims that when a funded subsystem failed to reach commercialisation, 鈥渘o flexibility was offered鈥�, and the case moved straight into a standard debt-enforcement route.

Dr Syed said he has been contacted by founders, investors and academics, as well as people inside Innovate UK and UKRI, who were shocked by Wootzano鈥檚 situation and shared similar experiences of the Innovation Loans programme.

He pointed to Innovate UK鈥檚 own portfolio data to argue that the scheme is not working as intended.听

The figures he shared last year showed 290 companies funded, 228 still active, 44 in liquidation or administration and 17 dissolved.听

Dr Syed said that means 61 companies – 21% of the portfolio – were already gone.听

After kitchen porter rejection, JP Morgan hired me – now I鈥檓 a founder

On Wootzano specifically, he said Innovate UK Loans placed the loan into default even though the funded subsystem had not commercialised yet – a point at which he believes the agreement allows discretion, restructuring or deferment.

He said options such as loan-to-equity conversion were discussed but never progressed and also claimed communication later stopped and enforcement continued despite Innovate UK Loans allegedly relying on 2022 accounts rather than current data, while being aware Wootzano had signed contracts worth 拢537 million and was expanding strategically.听

He added that senior leadership within Innovate UK and UKRI were not aware a petition existed.

In response last year, an Innovate UK spokesperson said: 鈥淚nnovation is inherently risky and new technologies, markets and businesses can fail. This is why Innovate UK provides loans to SMEs to bridge the gap between late-stage R&D and commercialisation. The loans are patient capital and are flexible.

鈥淲e can confirm that Wootzano received R&D funding from Innovate UK (a combination of grants and loans totalling over 拢2.5m), as this is a matter of public account. However, we cannot comment further on individual cases.

鈥淧ublicly funded loans are important for supporting innovation that鈥檚 too risky for traditional finance, often working together with private investment 鈥� supporting businesses and technologies that have the potential to create new industries, jobs and solutions, even though not all will succeed.鈥�

Deadline extension for 老九品茶Cloud鈥檚 Founder 250 list

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Sorted Group Holdings has joined Bristol-headquartered Huboo, which itself raised more than $150m funding but was saved from administration just before Christmas 2024 in a 拢9 deal.

The news comes just two years after Location Sciences completed its reverse takeover of Sorted in a 拢66.73 deal and it was admitted to the AIM market of the London Stock Exchange.

Sorted was launched as MyParcelDelivery (MPD Group) in 2010 by David Grimes but ran into financial difficulties after raising nearly $100m in investment.

In January 2024, 老九品茶Cloud reported how Location Sciences had agreed to buy Sorted for 拢66.73, as well as take on the global software firm鈥檚 debts of 拢4m plus interest and invest 拢3m of capital.

At its height in 2021, Sorted closed a $40m Series C investment round led by Chrysalis Investments and Arete Capital Partners.

The investment came less than nine months after Sorted raised another $15m to fund future growth.

In January 2021, Sorted saw 243% year-on-year growth as it was named by the FT as one of the fastest-growing companies in Europe.

However, the company鈥檚 growth had not kept pace with its forecasts and it never turned a profit.

On June 28, 2023, Location Sciences announced that it had entered into exclusive non-binding heads of terms regarding a potential acquisition and the deal completed on 30th January, 2024.

Huboo, meanwhile, was set up in 2017 by Martin Bysh and Paul Dodd and offered third-party logistics services – effectively storing online retailers鈥� stock and fulfilling orders for them.

Operating from micro-warehouses across Europe, it sponsored football club Bristol City as well as Bristol Bears rugby and other sports teams in the city.

By May 2024 it had 700+ employees, operations in five countries, 拢50m in annual recurring revenue and had raised more than $150m in funding.

Bysh was replaced as CEO by former Carphone Warehouse operations head Andrew Pinnington when it raised its last round of funding in mid-2024 – and by 23rd December 2024 it was insolvent after failing to make payroll for its 600 employees.

A pre-pack administration deal backed by BlackRock, Ada Ventures and Atalla Capital saved it from collapse and secured those jobs, but reports suggest the new owners did not take over any of Huboo鈥檚 outstanding debts or credit obligations.

The 拢9 deal saw Goodwill and Intellectual Property bought for 拢1 each; shares in Holdco NL for a quid; and Stock, IT Equipment, Customer Contracts and 老九品茶 Records also each sold for 拢1.

Huboo came under fire from former customers who accused it of losing their stock.

Following the 拢1 deal for Sorted, the combined group will process over 100m parcels annually and serve more than 400 brands and retailers – representing circa 拢1 billion in gross merchandise value.

Revenue is important, but it鈥檚 not the only thing

The combined Huboo Group will operate from established sites in Bristol, Manchester, Eindhoven and Madrid, which Huboo said marks 鈥渁 significant and proud entry into the dynamic North West market and strengthening Huboo鈥檚 ability to deliver truly national coverage across the UK, complementing its established presence in the South West and South East鈥�.听

Sorted鈥檚 Manchester office will continue operations.

The business said it plans to continue expanding its presence across the US, Asia and the Middle East as it scales globally.

Jo Kennedy, current managing director of, Huboo, said: 鈥淏ringing Sorted into the Huboo Group allows us to connect fulfilment, shipping and returns into a single intelligent platform. Together, we can help eCommerce brands 鈥� from fast-growth disruptors to established retailers 鈥� operate more efficiently, deliver better customer experiences, and scale with greater confidence.鈥�

Paul Hill, product director at Sorted, added: 鈥淏ecoming part of the same group as Huboo gives our technology, people and customers a stronger long-term platform. There is a clear fit between Huboo鈥檚 fulfilment capability and Sorted鈥檚 delivery technology, and we are excited by what the two businesses can build together over time.鈥�

Mahmoud Atalla, executive chairman of Brislington Holdco, parent company of Huboo and Sorted, said: 鈥淪orted represents a natural next step in Huboo鈥檚 transformation as a leading European eCommerce fulfilment and supply chain platform. By bringing together two highly complementary businesses, we are building a more powerful proposition for customers across the full spectrum 鈥� from emerging brands to large-scale retailers 鈥� while continuing to support Sorted鈥檚 broad ecosystem of logistics and retail partners.

鈥淭his transaction is supported by continued investor backing, with over 拢200m invested in the Group since inception, including more than 拢30m since the beginning of last year. This enables the acceleration of Huboo鈥檚 growth, with further investment planned as we scale.

鈥淥ur ambition is to build the core operating platform and underlying systems underpinning European commerce.鈥�

Idox plc to leave AIM in a month amid 拢340m takeover

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The firm has urged shareholders to submit their acceptances of the offer from US-based investment manager Long Path, an existing investor in the company, or risk losing out when it re-registers as private company on that date.

The Woking-headquartered software company has been listed in London for a quarter of a century but agreed a deal late last year with Long Path, via vehicle Frankel, to be taken private.

Once the threshold of 90% has been passed, on 29th May any shareholders who haven’t responded may find the liquidity, marketability and value of their holdings are affected, it warned.

“Following the re-registration becoming effective, any remaining Idox shareholders would become minority shareholders in a privately controlled limited company and may be unable to sell their Idox shares,” it said.

“Idox shareholders are strongly encouraged to submit their acceptances as soon as possible.”

Long Path, a shareholder in the firm for the last seven years, holds 12% of the issued share capital of Idox.

Idox serves the public and private sectors, helping organisations to digitise complex workflows, manage critical information assets, and improve operational efficiency. It has delivered applications across areas such as planning, regulatory compliance, engineering information management, and elections technology.

Since its admission to AIM in December 2000, Idox has grown revenues from 拢1.2m to 拢87.6m.

鈥淒espite the performance and strategic prospects, the Idox share price has traded within a relatively narrow range for a number of years,鈥� stated Idox, led by CEO David Meaden (pictured), late last year.听

Revenue is important, but it鈥檚 not the only thing

鈥淭he Idox board acknowledges Idox is operating in a challenging macroeconomic environment and that there are execution risks associated with pursuing its strategy. These ongoing risks, combined with wider public market liquidity pressures in the UK market have contributed to the current valuation.

鈥淭he Idox board considers that there are certain advantages of being a private company – in particular in the ability, more easily, to forgo short term profitability in pursuing longer term growth; and also in terms of executing material acquisitions.

鈥淭he Idox board notes and welcomes Long Path’s intentions regarding Idox and its planned level of increased investment and, over time, growth in the overall headcount of the business.鈥�

Long Path, which makes concentrated, long-term investments across public and private markets, currently has approximately $1.6 billion of assets under management.

strengthen Idox’s position as a leader in delivering critical digital infrastructure.”

‘I still think about my late business partner every day’

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Onvi Tech Ltd, founded in 2016 as Wi-5 Technologies, is registered in Cardiff but based in London. It built a team of hundreds to target 鈥榗reate a new paradigm for in-venue and in-store customer engagement鈥�.

The business was sourced from Wayra, the Telef贸nica-backed technology accelerator programme, which invested with a view to offering its services to O2 clients in the UK and Telef贸nica鈥檚 clients globally.

The platform effectively allowed consumers to order and purchase food, drinks and other goods by connecting to a Wi-Fi network. It was deployed at the O2 Arena; events such as golf鈥檚 BMW PGA Golf Championship at Wentworth; and trialled at Chicago Cubs鈥� baseball stadium Wrigley Field.

In 2018 it raised an 拢8m EIS equity round of funding. In 2021 it announced a 拢4.4m pre-Series A round as it signed up hundreds of hospitality venues, including enterprise听brands such as Pho,听Boxpark and Urban Pubs & Bars, to help with post-COVID mobile ordering.

Wi-5 was led by CEO and chief product officer Prask Sutton (pictured), who has served as CPO of FinTech 50 firm Round Treasury since September 2024. Sutton is still listed on LinkedIn as holding the CEO/CPO roles at Onvi Tech.

Its senior team in 2021 had a track record of rapid growth and US expansion: for example Alberto Menolascina previously worked at dark kitchen giant Reef, where he served as chief growth officer, and started grocery delivery start–up Dija, acquired by Gopuff in 2021.

Flagship Welsh tech firm Amplyfi to be liquidated

According to Sutton, he raised a total of 拢16m for Wi-5/Onvi and built a 100+ person team across product, engineering, and ops; expanded the product across the UK, EU, and US; and partnered with Apple for Tap to Pay.

The company was placed into creditors voluntary liquidation on 23rd April 2026. One of its directors is Jon Clarke, CEO of listed Crimson Tide, provider of the mpro5 process management app.

Founders need flexibility rather than full-time staff

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Gett is an app which features three-quarters of London鈥檚 black cabs and has built B2B relationships with clients ranging from London’s largest corporations to historic venues and major public sector organisations.听

The deal is expected to close in the coming weeks and will nearly double the number of rides on the Lyft platform in London, Europe’s largest taxi and ride-hail market.

It complements its comprehensive suite of ground transport options, which include private hire vehicles, bikes and executive chauffeur rides.

Lyft already owns Freenow; currently provides and was recently renewed to provide the bikes and stations for Santander Cycles, including the software that powers them; and later this year will be testing autonomous rides in London with Baidu 鈥� making it one of the only platforms in the world offering both human-driven and autonomous rides in the city.听

The Gett team will transfer to Freenow by Lyft once the acquisition is complete.

Wi-Fi mobile ordering firm which raised 拢16m to be liquidated

鈥淭hose who drive black cabs are some of the world’s most qualified drivers. Drivers pass the world’s toughest taxi exam, learning 25,000 streets and 20,000 landmarks before being licensed,鈥� said Thomas Zimmermann, CEO of Freenow by Lyft.听

鈥淲e are excited to welcome Gett into the Lyft ecosystem, strengthening our customer-centric black cab and private hire service for Londoners, passengers across the UK, and travellers worldwide.鈥�

Matteo de Renzi, CEO of Gett, added: 鈥淲e are delighted to start a new chapter for Gett operations in the UK with Lyft.

鈥淚鈥檓 confident that under this new ownership, the team at Gett by Lyft will continue to reach new heights, for the benefit of all our customers, drivers, and partners.鈥�

PE-backed Glass Atlas scales Summit in latest deal

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The acquisition will bring the group鈥檚 headcount to approximately 240 and combined revenues to 拢22m.

The financials of the deal have not been revealed but it will strengthen the firm鈥檚 capabilities across end-to-end digital transformation, performance marketing, consultancy and product data technology.

In 2025, Glass Atlas was officially launched as a new digital agency following the integration of four established brands: Space 48, Bring Digital, Brave the Skies, and This is Digital.

The acquisition marks another strategic step in Glass Atlas鈥� growth journey, following investment from Foresight Group.

Jon Woodall, CEO of Glass Atlas, said: 鈥淪ummit is a business I鈥檝e respected for a long time. It鈥檚 built on strong fundamentals. A clear specialism in retail, long-standing client relationships, and a great track record of delivery.

鈥淧roductcaster adds an important layer of proprietary technology. As performance marketing becomes increasingly data and automation-driven, having that capability in-house is critical to how we support clients across their broader commerce strategy.

鈥淭his acquisition strengthens the platform and positions us well for the next phase of growth.鈥�

Martin Corcoran, CEO of Summit & Productcaster, said: 鈥淭his marks an important step for Summit. We鈥檝e focused on building a great business with a clear proposition in retail marketing.

鈥淎s part of Glass Atlas, we鈥檙e well positioned to continue that growth with access to broader capabilities and technology.

Helping business leaders turn ambition into reality

鈥淧roductcaster has developed into a scaled platform supporting a large number of retailers across Europe. Being part of Glass Atlas provides the opportunity to continue investing in the product and extending its reach.鈥�

Founded in 1999, Summit is a performance marketing and commerce consultancy specialising in retail and eCommerce.

Stellar client base

The combined group鈥檚 clients now include American Golf, Footasylum, Cotton Traders, Richer Sounds, RNIB, St John Ambulance, and GoShorty.

Advisors to Glass Atlas included corporate finance advice and financial due diligence provided by BK Plus (Brett Marsden, Elise McAuliffe and Taran Chaudhry); corporate tax advice and tax due diligence provided by BK Plus (Sally Fuller and Steve Chamberlain); Harrison Drury (Mark Traynor, Jennifer Murphy, Richard Williams-Bulkeley and Sally Tomlinson); and Hannah Eames of Glass Atlas. The acquisition was also supported by Santander.

Advisors to Summit included Cowgills corporate finance (Sam Davies and Thomas Wrigglesworth) and Hill Dickinson (Elan Ioworth and Ben Correia de Sousa).

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Amplyfi is an AI-powered market intelligence platform which was backed with more than 拢7 million investment from Cardiff Capital Region鈥檚 flagship fund Innovation Investment Capital and the Development Bank of Wales.听

It delivered insights to businesses by connecting structured and unstructured data at scale to uncover previously hidden links, trends and opportunities – summarising huge volumes of data sourced from millions of documents a day including company websites, news, RSS feeds and scientific papers.

Advancements in generative AI platforms such as ChatGPT have impacted its business and forced the board into a creditors voluntary liquidation. Bethan Evans and John Cullen of insolvency practice Menzies have been appointed joint liquidators.

CEO Paul Teather (pictured) has ‘ended’ his tenure with a dateline of April 2026 on his LinkedIn profile. Formerly on the board as an investor, he took over the CEO role in 2023. A managing partner at Pragmatica Consulting Ltd, he also chairs Sprout.ai and is a board member at ForgeAI.

In 2022 Hong Kong-based QBN Capital led a round into Amplyfi which included 拢2.6m from the Development of Wales.

A 拢4.7m injection in 2023 was the maiden investment from the 拢50m IIC fund – managed by Capricorn Fund Managers – which has now backed 10 companies.

Amplyfi made a round of redundancies last year.

Aurrigo triples footprint with HQ move

A spokesperson for the Cardiff Capital Region said: 鈥淪ustained efforts were made to support Amplyfi, alongside co-investors, in a challenging and rapidly evolving AI landscape.听

鈥淎s a minority shareholder, we will wait on the outcome of the liquidation process.鈥�

A Development Bank of Wales spokesperson said: 鈥淲e were sorry to be informed that the directors of Amplyfi have taken the decision to proceed with the liquidation of the company.

“As a minority investor, we will now await the outcome of the liquidation process. It would not be appropriate to comment further at this stage.鈥�

AI video platform Synthesia opens new global offices

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