InforSense, a UK business software company backed by Imperial Innovations and other early-stage investors, has been acquired by IDBS Limited, a larger software group, for £5m.
Imperial Innovations, which is the listed technology commercialization and investment fund, has sold its 14.3% stake for £0.9m, with a further £0.1m deferred performance related payment. Other vendors included Elaia Partners, Fleming Family and Partners, NPI Ventures – a subsidiary of Nikko Cordial Corporation – and Sitka Health Fund, a VCT managed by Beringea.
Founded in 1999, it completed its first funding round in April 2003, and over a further two financing rounds, raised almost £10m according to Thomson Reuters.
InforSense made a loss last year and paid no dividend, with Imperial Innovations’ valuing it at £1m at the end of January.