Actual Experience completes ?4m financing round

RNS Number : 4456T

IP Group PLC

20 November 2013

 



FOR RELEASE ON

20 November 2013

IP Group - Portfolio company Actual Experience completes £4m financing round

IP Group plc (LSE: IPO) ("IP Group" or "the Company" or "the Group"), the developer of intellectual property based businesses, is pleased to note that portfolio company Actual Experience Limited ("Actual Experience"), a spin-out company from Queen Mary, University of London, has successfully completed a £4 million financing round.

Actual Experience, a Bath-based analytics-as-a-service company, raised the financing from new institutional and other investors including funds managed by Henderson Global Investors. Funds raised will be used to support Actual Experience's continued expansion and internationalisation, increase resource dedicated to supporting channel partners and further improve its capacity to service its blue chip customer base.

Actual Experience has built a strong presence and partnership network in the UK and has also entered the US and German markets with top-tier clients in each territory. Customers include Cisco, Deutsche Post DHL, Thomson Reuters, Verizon, Accenture, ITV and Charles Stanley.

Following completion of the financing round, IP Group's undiluted beneficial stake of 30.1% in Actual Experience is valued at £4.7 million and the transaction resulted in an unrealised fair value gain to the Group of £3.3 million.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer	[phone]
Liz Vaughan-Adams, Communications	[phone] / [phone] [e-mail]
FTI Consulting
Ben  Atwell, John Dineen	[phone]

Notes for editors

About IP Group

IP Group is a leading UK intellectual property ("IP") commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support.

The Company's portfolio comprises holdings in over 70 companies including Oxford Nanopore Technologies, the DNA sequencing development company, Revolymer, best known for its removable chewing gum and Xeros, which has received many accolades for its revolutionary clothes washing techniques with a much reduced requirement for water.

The portfolio includes early stage to mature businesses and has exposure to five main sectors - Energy & Renewables, Medical Equipment & Supplies, Pharma & Biotech, IT & Communications and Chemicals & Materials. To date, fifteen of the portfolio companies IP Group has backed have listed on the AIM market of the London Stock Exchange and one on ISDX.

Founded in 2001, IP Group listed on AIM in October 2003 and moved to the Official List in June 2006.

For more information, please visit our website at www.ipgroupplc.com.

About Actual Experience

Actual Experience is a high-growth technology company founded in 2009 that has already acquired an impressive list of blue-chip customers including Cisco, Deutsche Post DHL, Thomson Reuters, Verizon, Accenture, ITV and Charles Stanley. The company has built a strong presence and partnership network in the UK and has also entered the US and German markets with top-tier clients in each territory.

Actual Experience's analytics-as-a-service is based upon ten years of research carried out at Queen Mary, University of London into the relationship between the human experience of applications and digital infrastructure behaviour. It is uniquely capable of measuring the human experience of key business applications, enabling corporate digital supply-chains to be managed according to the single metric that actually affects the performance of staff and the experience of customers. The company has been recognised with several prestigious awards including the Institution of Engineering and Technology (IET) Innovation Award (2012), the UK IT Industry "Innovation and Entrepreneurship Award" (2013) and a Cisco British Innovation Gateway award (2013).

For more information, please visit www.actual-experience.com.

Ends

 

END

 

 

NRAEAKFNFFKDFFF