Software Developer Intrallect changes hands in share exchange deal
Borders-based business angel syndicate, TRI Cap, has struck a deal with software specialist Leading Software which sees the latter taking over all shares in software developer Intrallect in a share exchange agreement. Intrallect spun out from the University of Edinburgh in 2000, with specialist software designed to manage learning object repositories (LORs). The product is used principally in the academic sector to allow educators to organise, share, reuse and repurpose learning objects for their training materials.
“This deal facilitates Intrallect’s further development and will strengthen the company’s position as part of a specialist and very focused software group,” said Robert Dick, chairman of TRI Cap.
The deal means Linlithgow-based Intrallect joins the Leading Software stable. Set up in 2008 by IT entrepreneur Bob Dryburgh with support from Capital Angels syndicate, the company acts as a corporate parent to high growth, specialist software companies. The company has to date acquired four software companies in high growth market sectors.
“We have identified the on-line education market as a sector likely to achieve significant growth over the next five years,” said Bob Dryburgh. “The Intrallect library product is a piece of outstanding technology which will form the foundation of a strategy where Leading Software plans to work with a range of strategic technology partners and content providers to deliver world class on-line educational solutions.”
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5 MARCH 2009
Issued on behalf of TRI Cap by Prior PR.
For further information contact Eileen Prior on 01721 729322 or 07802 180 412, or email eileen.prior@priorpr.co.uk
NOTES TO EDITORS
About Tweed Renaissance Investors Capital Limited (TRI Cap)
TRI Cap, which is based in the Scottish Borders, was founded in 2005 with the intention of investing in growth businesses in the Borders and beyond. Its founders include some of the Borders’ leading business people who, between them, have many years’ experience of building and investing in enterprises in the Borders and further afield. Investments to date include: Lab901, EctoPharma, Turnbull and Scott, Syntropharma, Touch Bionics, Power Photonic and Factonomy.
Visit www.tricapital.co.uk for more information.