Jumpstart, the Edinburgh-based research and development (R&D) tax specialist, is set to expand into new international markets after being snapped up by a French listed digital group. Lyon-headquartered ABGI Group, the consulting division of digital company Visiativ Group, has acquired a 93 per cent stake in Jumpstart for an undisclosed sum.
The tax credit firm’s managing director Scott Henderson described the deal as a “huge vote of confidence” and said it would allow the business to expand into the French, North American and Brazilian markets.
Jumpstart chairman and Scots advertising tycoon Jim Faulds will step down from the board, while Henderson and the management team will join ABGI and continue in their current roles, with the firm maintaining its existing brand.
Henderson will retain a stake in the business and two other managers will be offered the opportunity of acquiring a shareholding later in the year, according to Visiativ.
BGF, which invested £3.4 million in 2014, has exited its minority investment in the Scots firm. Henderson said: “The acquisition is a huge vote of confidence in our approach to helping companies fulfil their innovation funding strategy.
Original article published on The Scotsman
Read the full article here