back to shortlist | tech deal of the year award | tech journalist of the year award | tech growth business of the year award | tech for good award | tech investor award | best use of tech in the digital economy award | tech innovation of the year award | tech businesswoman of the year award | tech CEO of the year award | tech company of the year award
tech deal of the year award
sponsored by Rothschild & Co
London-based tech firms have raised over $4bn from VCs so far in 2020, which is more than Paris, Stockholm, Berlin and Tel Aviv combined and globally the tech sector regularly generates the most IPOs and the highest proceeds.
As quoted by Sadiq Khan, “The tech community in London and across the UK has risen to the challenges posed by coronavirus, demonstrating the sector’s resilience and innovation”.
Our four shortlisted companies have all transformed their business through their strategic deal making and are subsequently on a rapid growth trajectory, despite the global pandemic and impending recession.
Huge congratulations to our shortlisted companies…
At the start of this year, Just Eat were given the green light to a £6.2bn merger with Dutch food delivery firm, Takeaway.com, creating one of the largest food delivery groups in the world. In addition, the group raised €700m in new outside funding in the form of new shares and convertible bonds. The merger marked the latest phase of consolidation in the takeaway delivery market, hot on the heels of Amazon proceeding with an investment leading a $575m round for Deliveroo.
The group concluded a strategic deal with Microsoft in May this year to acquire Metaswitch’s complementary portfolio of ultra-high-performance, cloud-native communications software. As the industry moves to 5G, operators have opportunities to advance the virtualisation of their core networks and move forward to an increasingly cloud-native future. Combining the two businesses demonstrates how serious Microsoft is about telco networking on Azure.
SDL was involved in one of the UK’s largest tech deals this year through its acquisition by RWS for £809m. The all-share deal creates the world’s largest language services company and one of the biggest businesses listed on AIM, with a market value of around £3bn. The combined group will serve an expanded blue-chip customer base with limited overlap across its core markets and the deal should result in double-digit earnings per share accretion in its first full financial year post completion.
The Hut Group has consistently pursued an aggressive acquisition strategy, having completed a £1bn funding round in 2019 to support its growth. The group’s most recent acquisitions include haircare brand, Christophe Robin and the Eclectic Hotel Group. The group’s ingenuity platform powers more than 1,000 consumer brands around the world, including Elemis, PZ Cussons, Nuxe, ByTerry, Revolution Beauty, Homebase and Hotel Chocolat. But it was the oversubscribed IPO for THG that forced the company on to the UK tech awards tech deal of the year shortlist. Current market cap £5.85bn.