recently, the British cloud service provider Timico announced the acquisition of a 50 million pounds (about $62 million 310 thousand) of private equity investments, investors for the local well-known investment institutions Lyceum Capital. Thanks to this investment, Timico plans to increase investment in the system, human resources and other aspects, help business growth, and enhance its ability to support cloud services in the field of IT services.
Timico also said that the use of this latest investment, they will conduct a number of selective acquisitions, aimed at strengthening the level of expertise in some key areas of the industry, the ability to bring additional services.
as equity investors, Lyceum Capital venture capital will get the majority stake in Timico, and then become the company’s largest shareholder. In addition, as part of the transaction, Lyceum Capital and Geoff Hitchcock venture partner Simon Neville two will join the Timico company as a non-executive director and the company founder Tim Radford will continue to remain on the board, continue to serve as non-executive directors.
Timico company has been in promoting cloud service reconstruction project,, they also focus on the development of a single brand and service model, hopes to strengthen its cloud strategy in core areas, and help the mid market enterprise customers to provide more technical support cloud. Recently, the company introduced a new restructuring plan, aims to build itself as a "end-to-end" cloud hosting provider (Managed Cloud Service Provider), plans to provide management space IT and cloud service for enterprise customers to connect, unified communications and mobile function to complement its network.
Timico CEO Ben Marnham said:
venture capital cooperation with Lyceum Capital, Timico is a very logical step in the transformation process. In the past few years, the founder of Tim Radford and the whole team’s efforts, the company has laid a solid foundation, we plan to achieve a breakthrough on this basis transformation. In the field of cloud technology, Lyceum Capital venture capital has a wealth of professional experience, but also their vision for the future of Timico is also very recognized.
for this investment, Lyceum Capital venture partner Simon Hitchcock expressed recognition of the Timico team, the team’s ability to work is not only strong, but also a very clear