Howes Percival have acted on a transaction in the fast-growing fintech sector, completing the sale of EBR Analytics Limited to RIMES Technologies Limited.
EBR was founded by fintech entrepreneur Jay Gandhi who spotted a gap in the market for the production of up-to-date and timely benchmarking information required by financial institutions in order for them to comply with their legal obligations.
EBR’s software solution rapidly became a market leader among leading clearing and investment banks. They discovered it was easier and more cost effective for EBR to provide their benchmarking information, rather than to collate the information from databases themselves.
RIMES is a leading global provider of Managed Data Services (MDS) and regulatory technology (RegTech) software solutions that help firms thrive in the era of data-driven finance. Backed by private equity, RIMES leverages powerful proprietary technology, an unrivalled team of data management and regulatory experts and direct relationships with more than 650 data partners.
Jay Gandhi said: “I had taken EBR as far as I could on my own. RIMES represents an excellent fit for EBR which will benefit hugely from their expertise and resources. I was recommended to use Howes Percival for the sale process and their care and service was superb throughout.”
Howes Percival’s Gerald Couldrake said: “The fintech sector is one in which we have an increasing presence. It is fast moving and involves a range of expertise from different disciplines in our teams.
“We were delighted to help Jay achieve a fantastic result from his hard work in founding and developing the EBR technology. We look forward to seeing him working on his next project.”
Tax advice on the transaction came from Rachel Nutt and corporate finance help from Craig Chamberlain, both of MHA MacIntyre Hudson.
For more information on Howes Percival’s Corporate team or help with acquisitions or disposals, visit: www.howespercival.com/services/corporate/