Venture Capital: Octopus Sells Stake in Zynstra for £100 Million
Yes, it’s a slow news week. But it’s a sign of more deals to come.
Octopus Ventures, a VC firm based in London, has sold its stake in virtualization tech firm Zynstra. Reports further state that the deal was worth £100 million and the buyer is NCR.
Octopus Ventures Sells Zynstra Stake to NCR
Zynstra is a SaaS firm that offers cloud-managed IT infrastructure to SMBs. Octopus was also one of the first institutional investors in the firm in 2013.
“This sale is a huge testament to the innovation, determination, and resilience of Nick and the entire Zynstra team and a demonstration of their strategic value in retail today,” said Jo Oliver, Partner at Octopus Ventures, in a statement. “It’s been a great pleasure being part of the Zynstra successful journey over the last six years and we wish them all the very best for their future with NCR.”
Octopus previously participated in three further investment rounds with Zynstra.
“Octopus Ventures has played an incredibly important role in the growth of Zynstra, and we are hugely grateful for their partnership and advice as we have developed and expanded the business,” said Nick East, co-founder and CEO of Zynstra. “When we started to work with NCR, we realized that our combined strengths made for an unmatched service, with a global reach – the combination makes sense for Zynstra and our stakeholders.
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