BGF has taken a 25 per cent stake in mobile data specialist and eSIM Mobile Virtual Network Operator (MNVO), Jola Cloud Solutions Ltd for GBP10.25 million.
Co-founder and CEO Andrew Dickinson says: “BGF has a fantastic track record of investment overall and it was their references and reputation in the ICT space that made them a clear choice for Jola.
Seb Saywood, the investor at BGF who led the deal with support from Subi Inayat, says: “Jola’s growth and innovation continues to impress. The projected growth of the global mobile data market is considerable, with demand for such services expected to accelerate with the anticipated roll out of 5G.”
The advisors to the transaction were: Browne Jacobson (legals for BGF) and BDO (tax for BGF) and Pinsent Masons.
Read more at Private Equity Wire
