News
UKCloud acquisition approved by UK Government
April 2022 by Marc Jacob
UKCloud has now received approval for its acquisition by Hadston 2 under the National Security and Investment Act. The forensic scrutiny applied to the transaction is essential for maintaining the UK’s national security, and is especially important for UK-based leaders in strategic sectors like UKCloud. The confirmation of this approval by the Secretary of State for Business, Energy and Industrial Strategy means the substantial new investment can now be finalised, solidifying UKCloud’s role as a financially robust, innovative and market-leading technology company based in the United Kingdom.
The approval clears the way for completion of the previously announced acquisition by Hadston 2 Limited, an investment vehicle led by well-known entrepreneur and UKCloud Chairman, Jeff Thomas, and backed by existing institutional investors including BGF and Digital Alpha. This significant investment will allow UKCloud to begin executing its strategic plan, while redoubling its commitment to the UK’s technology sector.
Approval of the new investment will pave the way for the expansion of UKCloud’s product portfolio, including significant enhancements in its platform and services, and investment in its people over the coming months. In particular, the company will concentrate on deepening its key strategic relationships, which will enhance its focus on sovereign cloud services, and will secure closer, exciting partnerships with world-leading tech companies. This will also support UKCloud’s ongoing commitment to provide sustainable high skill, high wage jobs to the benefit of the UK’s economy, society and environment.
