Author: Patrick Killeen

Cloud Direct has appointed Leighton Searle as its new CEO, as the Bath-based Microsoft partner looks to scale its AI and cloud services.

Searle brings more than 25 years’ experience in the technology sector, including almost two decades at Microsoft, where he held senior leadership roles focused on cloud, data and AI transformation at a global level.

He succeeds founder Brett Raynes, who established the business 22 years ago and will move into the role of executive chair, continuing to shape the company’s strategic direction and product development.

Founded originally as Back Up Direct, the company pivoted to cloud services in the late 2000s and has since become one of the UK’s longest-standing Azure Expert Managed Service Providers.

Cloud Direct employs around 150 people across the UK and South Africa and reported 26% year-on-year revenue growth.

Author: Patrick Killeen

TT Electronics’ proposed £287 million takeover by Swiss electronics group Cicor has collapsed after shareholders voted against the deal, bringing an end to a process that began in October.

The boards of both companies had agreed a recommended cash and share acquisition, under which Cicor would acquire the entire issued and to-be-issued share capital of TT.

Under a revised final offer announced in November, TT shareholders were given the option of receiving either 150p in cash per share or 0.0084 new Cicor shares, with the transaction to be implemented via a court-approved scheme of arrangement.

However, at a court meeting and general meeting held today, the negotiations failed to secure the required level of shareholder support.

Only 51.77% of votes cast by value were in favour of the scheme, below the statutory thresholds needed for approval, meaning the acquisition has formally lapsed.

Company chairman Warren Tucker also confirmed that he plans to step down as chairman after serving two three-year terms, although he will remain in post until the company’s AGM in May to allow for an orderly transition.

HealthTech Ezra has announced a rapid expansion of its UK operations just eight months after launching, with six new diagnostic sites opening this month and a further five planned for early 2026.

The AI-enabled MRI screening provider is also introducing a new 22-minute multi-organ scan and its first Open MRI service, aimed at making advanced imaging faster, more accessible and more comfortable for patients.

The move comes amid rising demand for preventative screening and continued pressure on NHS diagnostic capacity.

The New York firm’s growth in the UK is supported by its acquisition earlier this year by US-based Function Health, which recently closed a $298 million funding round, valuing the group at $2.5 billion.

Aptamer Group has reported a strong first half, with revenue rising 27% year on year to £830,000 in the six months to December 2025.

The AIM-listed life sciences company said it is making good progress towards a more recurring, high-margin revenue model, supported by a £2 million fee-for-service order book and a £3.1m sales pipeline.

During the period, the York-based MedTech signed multiple licensing agreements with partners including Twist Bioscience and Alphazyme, marking a shift from development to commercialisation.

The company said it remains confident that full-year revenue will materially exceed that of last year.

EnSilica has reported revenue growth of more than 35% on a like-for-like basis in the six months to 30th November 2025.

The AIM-listed chip designer expects H1 revenues of around £12.7 million, up from £9.3m a year earlier, alongside EBITDA profits of approximately £1.7m, compared with a loss in the prior period.

Growth was driven by robust non-recurring engineering activity and rising chip supply revenues, particularly across satellite communications and security-focused markets.

The company reiterated full-year guidance of £28m to £30m in revenues for FY 2026, with more than 95% already contracted.

Leeds-based technology consultancy Burendo has appointed Richard Brown as head of business development to lead its strategic growth and expansion into new markets.

Brown brings 30 years’ experience building high-performing commercial teams and driving revenue growth across sectors including financial services, public sector, retail and energy.

He joins from senior roles at consultancies including Ensono and Qurum Network Resources, where he helped scale operations across the UK and US.

Burendo said the appointment supports its ambitious growth plans as it continues to expand its presence from its Leeds and London offices.

Gloucestershire-based maintenance technology startup iMaintain has secured more than £250,000 in pre-seed funding, with backing from early-stage investor SFC Capital.

The company is developing a platform that helps manufacturers capture and reuse maintenance knowledge to reduce repeat faults and improve operational reliability.

The funding will support further product development, expanded customer deployments and the scaling of its AI-driven capabilities.

The business is already working with manufacturers across the UK and now plans to grow its footprint.

London-based Apex Rides has raised £420,000 to accelerate the development of its connected fitness platform and support a shift to an app-first, hardware-agnostic model.

The funding round included backing from FundMyPitch alongside strategic angels and venture capital investors.

Originally launched with its own bikes, the company is now positioning its platform as a software layer that works with any Bluetooth-enabled bike in an attempt to expand its market.

The firm previously raised a £3 million seed round in 2021, which included investment from former Formula 1 team boss Eddie Jordan.

Oxford Quantum Circuits has appointed Darko Stojkovic as its new chief operating officer as the company moves into its next phase of global expansion and commercial scale-up.

Stojkovic brings extensive experience in scaling advanced manufacturing and complex supply chains, having previously held senior operational roles at companies including Refeyn, Vestas and Keeler.

His appointment comes as OQC accelerates the deployment of its quantum computing platforms into commercial data centres worldwide.

The company said the move strengthens its leadership team as demand for enterprise-grade quantum computing continues to grow.

Author: Patrick Killeen

Nonwovenn has been acquired by CorpAcq in a deal that marks the exit of growth capital investor BGF after nearly a decade of backing the Somerset-based manufacturer.

Founded in 2003 by chairman David Lamb, the business designs and manufactures specialist nonwoven technical fabrics for niche applications, with a strong focus on harm reduction.

Its products are used in areas including protective clothing, wound care and chemical, biological, radiological and nuclear (CBRN) protection.

BGF first invested in the business in 2016, providing multi-million-pound funding to support expansion and innovation.

Since that initial investment, the firm has more than doubled its annual turnover, growing revenues from £19 million in 2016 to £46m in 2025, with continued growth into 2026.

Author: Patrick Killeen

Nasdaq-listed Amgen has agreed to acquire Oxford-based Dark Blue Therapeutics in a deal valued at around £622 million.

The swoop is set to strengthen the US MedTech giant’s early-stage oncology pipeline and its focus on targeted protein degradation.

Private firm Dark Blue Therapeutics is currently developing first-in-class small molecule therapies designed to degrade disease-driving proteins.

Its lead investigational programme targets MLLT1 and MLLT3, proteins implicated in certain forms of acute myeloid leukemia (AML), an aggressive blood cancer with limited treatment options and high relapse rates.

Amgen, listed in the US, has a market cap of $177.8 billion.

It is one of the world’s largest MedTechs, with a portfolio spanning oncology, cardiovascular disease, inflammation and rare conditions.

The Scottish National Investment Bank has appointed David Ritchie as its new CEO, succeeding Al Denholm, who is retiring after a 40-year career in investment.

Ritchie was a founding member of the bank and most recently served as chief strategy officer, playing a key role in its launch in 2020.

The bank has committed more than £990 million across 49 businesses and helped attract a further £1.4 billion in co-investment.

Ritchie will lead the organisation as it continues to focus on its missions around net zero, place and innovation.

Universal Music Group has announced a collaboration with NVIDIA to develop responsible AI technologies for music discovery, creation and fan engagement.

The partnership will combine NVIDIA’s AI infrastructure with Universal’s extensive global music catalogue to explore new ways of enhancing discovery, personalisation and interactive experiences while protecting artists’ rights.

The companies will also work on tools that support human-led creativity and ensure proper attribution and compensation for rightsholders.

Author: Patrick Killeen

SmartSearch has completed its acquisition of Credas Technologies, bringing together two specialist providers of KYC (Know Your Customer), AML (Anti-Money Laundering) and digital identity solutions.

The Ilkley-based business said the deal will enhance its ability to support regulated firms across sectors including financial services, legal, accountancy, property and insurance, as compliance requirements continue to evolve.

Cardiff-headquartered Credas’ digital identity verification technology and established brand will be integrated into SmartSearch’s platform, expanding flexibility and accelerating product development.

Following the acquisition, the combined group will serve more than 8,500 regulated firms, up from SmartSearch’s existing base of more than 7,500 UK customers.

NAVEX has appointed Joe Stubbs as UK country manager as the risk and compliance software provider continues to expand its international operations. 

Stubbs brings 20 years’ experience in revenue-focused roles, including senior positions at Cognism, Ceros and Adestra, and will be responsible for driving growth and localisation in the UK market. 

His appointment follows a series of senior hires across Europe and Asia as the Oregon-based firm responds to rising demand for risk and compliance technology. 

The business serves more than 13,000 organisations globally, including the majority of Fortune 100 and 500 companies.

Author: Jonathan Symcox

A listed University of Leeds spinout in danger of going insolvent has left the London Stock Exchange after two decades.

In December Tissue Regenix Group secured $500,000 in emergency funding to help it to remain afloat, having appointed a new leadership team in October following the discovery of errors in previously reported revenues.

Trading in its shares on London’s AIM market have been suspended since that time as it restated its 2024 revenue figures.

Following approval at a shareholder meeting just before Christmas, the regenerative medical devices company has today cancelled the admission to trading on AIM of its ordinary shares.

The company has appointed a secondary market trading facility, Asset Match, to facilitate trading in its shares. Asset Match, a firm authorised and regulated by the Financial Conduct Authority, will operate an electronic off-market dealing facility for these. 

Author: Jonathan Symcox

One of McCann Manchester’s managing directors is to leave after 19 years with the agency.

Graham Todd, who joined the firm as an account director in 2007, was appointed joint MD alongside Laura McKinlay in May 2024.

“It’s been an incredible journey alongside truly amazing colleagues and clients,” he wrote on LinkedIn. “Together we’ve produced work that has transformed businesses and won a fair few creative and effectiveness awards along the way.

“But it’s the people in this industry that matter most to me. Their skill, their craft, the dedication and the character to believe in an idea and see it through with absolute confidence it’s going to deliver.

“McCann Manchester is a unique place, and from that first drive up to Bonis Hall it becomes a part of you that will never go. I feel privileged to have been part of it for so long. The memories will last a lifetime and those of you who helped make them so special, you know who you are.

“So, to everyone I’ve worked with, a simple thank you doesn’t come close – but I hope you know what this has all meant to me, and being part of this place and working together has been a huge part of my life.

“And to the many who are experiencing a similar situation at this time, my words of wisdom are to believe in yourself – you are amazing.

“It’s now time to take a short break Down Under which might involve a beach, some sun, a cold beer and time with my amazing better half. I’ll be back at the end of January ready for what 2026 and beyond brings. The Open to Work logo is officially on.

“And finally, to quote a particularly insightful person, Work Hard – Be Nice people.”

Author: Jonathan Symcox

Faculty has become the first tech unicorn of 2026 after it was bought by Accenture in a deal worth more than $1 billion.

While terms of the deal were not disclosed, Faculty investors Apax Digital and Mercuri said it made the company a unicorn.

“Quadrupling revenues in four years, launching a successful AI software offering and becoming a unicorn – this is a great outcome for Faculty and showcases the strength of the UK’s AI ecosystem,” said Mark Beith, partner at Apax Digital.

Alan Hudson, partner at Mercuri, wrote on LinkedIn that Faculty was “the first UK tech unicorn of 2026”.

In three months last year Accenture cut 11,000 staff in a restructure with CEO and chair Julie Sweet warning that the figure would grow if staff did not retrain for AI. Its 800,000 employees are now referred to as ‘reinventors’ amid the pivot to AI advice.

“With Faculty, we will further accelerate our strategy to bring trusted, advanced AI to the heart of our clients’ businesses,” said Sweet in announcing the deal. “I’m pleased to welcome the Faculty team to Accenture and look forward to [co-founder and CEO] Marc Warner’s contribution shaping our technology vision and strategy as [our new] chief technology officer.”

Author: Chis Maguire

Mia Drennan has spent most of her life breaking through glass ceilings.

Earlier this week GLAS, the London FinTech she co-founded in 2011 with £6,000 of capital, secured strategic investment from leading European mid-market private equity firm, Oakley Capital, and one of Canada’s largest institutional investors, La Caisse.

The deal size has not been disclosed but it’s understood to have been in excess of £1bn.

It’s a remarkable story – until you understand a bit more about the driving force behind the business.

Mia Drennan was born in May 1970 and as a teenager  joined the air cadets and dreamt of being a fighter pilot.

Unfortunately her passion came several years before female pilots were allowed to join the RAF so she pursued her other passion of art instead.

However, after working as a holiday rep is Corfu she responded to a job advert at a London accountancy – and has never looked back.

Publisher Collective has appointed Andrew Buckman as its new CEO as it enters the next phase of growth following its merger with Snigel.

Buckman replaces Christian Jeschko, with Jeschko remaining as chief operating officer focused on growth initiatives and publisher partnerships.

Buckman brings nearly 30 years of industry experience, including a long career in MarTech and a previous role as CEO of Sublime, which exited to Azerion.

His initial focus at the Bath-based firm will be on integrating teams and systems, strengthening publisher relationships and driving sustainable profitability.