HMT, led by partner Andrew Thomson, advised Access Intelligence plc on the acquisition of Cobent Limited, a software business that provides learning management software primarily to regulated sectors, for £5 million.
Cobent was founded by Howard Sears in 2003 and is based in Chipping Norton, Oxfordshire. Cobent’s primary product, Learning Compliance Suite (“LCS”) was launched in 2005 and allows regulated organisations to manage employee training, maintaining a complete training record and ensuring compliance with regulatory guidelines on record-keeping, security, validation and auditability. Initially designed to be compliant with US Food and Drug Administration requirements, the product is now also compliant with regulatory guidance for other industries including financial services.
Cobent offers a variety of options for delivery and pricing of the software, including Software as a Service (“SaaS”), to allow complete flexibility to its customers, who include pharmaceuticals, retailers, financial services, government and NGOs.
Andrew Thomson commented:
“We are thrilled to have worked with Access again on their latest acquisition, which gives them a strong presence in the compliance market and enhances their existing portfolio of SaaS businesses.”