Super Trouper deal: Firm behind ABBA Voyage holograms sells asset management division for £52m
The London-listed tech firm behind ABBA Voyage Oxford Metrics has sold its infrastructure asset management division, Yotta, to Causeway Technologies £52m.
The deal will enable the firm to focus on the Entertainment, Life Science and Engineering markets served by Vicon: the Group’s larger and higher-growth division.
Through the lens of its Vicon technology, which has enabled London’s holographic Abba Voyage experience, the group will have a greater opportunity to further extend its sensing and analysis capabilities to serve these markets.
Shares jumped nearly 30 per cent in afternoon trading, showing investors’ confidence in this strategic move.
Commenting on the sale, Nick Bolton, CEO of Oxford Metrics, said:“Today’s sale of Yotta is an enabler of growth on multiple fronts”
“For Oxford Metrics, today’s sale not only realises the investment we have made in Yotta at an attractive multiple, but it also brings even greater clarity to our go-forward growth path. This clarity adds to our excitement, our energy and our focus on the Smart Sensing opportunity that lies ahead”, he said.
Looking forward, Oxford Metrics’ five-year growth plans are to more than double revenue.