CIO Connectchief executive Nick Kirkland has led a management buy-out
of the IT networking organisation from theNational Computing Centre (NCC)for an
undisclosed sum.
The buy-out of CIO Connect was supported by investment from
Shackleton Ventures, which
specialises in direct secondary venture capital investments.
The new owners have promised further investment as part of the
plans to enhance the membership organisation dedicated to CIOs and
their teams.
"Independence allows us to completely dedicate our organisation
to the CIO and their agenda," said Kirkland.
He said that as an independent, commercial organisation the
success of CIO Connect was now "inextricably tied" to the success
of its members.
Michael Gough, NCC's chief executive, said, "This additional
investment in CIO Connect will enable it to grow to the next level
and allows NCC to focus on its mission of championing the effective
deployment and professional management of IT within the UK."
Hugh Stewart, managing partner of Shackleton will join the new
board. He said, "I am delighted to be backing Nick and his team to
acquire CIO Connect. They have excellent ideas for extending CIO
Connect's range of services."