International law firm CMS has advised ActiveOps plc (ActiveOps), a management process automation software company, on its successful initial public offering (IPO) and admission to trading on AIM. The IPO raised approximately £76 million for existing shareholders, giving ActiveOps a market capitalisation of £120 million on admission.
ActiveOps is a leader in management process automation, providing a SaaS platform to large enterprises with complex and global back-offices. Its software and embedded back-office operations management methodology enables enterprises to adopt a data-driven, scientific approach to organising work and managing capacity.
ActiveOps has approximately 80 enterprise customers, predominantly in the banking, insurance and business process outsourcing sectors, with approximately 163 employees serving its global customer base from offices in the UK, Ireland, USA, Australia, India and South Africa. Its admission to AIM is expected to accelerate the company’s growth plans and enhance its profile and reputation within its market.
Jack Shepherd, CMS Corporate partner, comments: “We are delighted to have supported ActiveOps on its IPO and look forward to helping the company on its next stage of development. Our ECM team continues to thrive in this market and we expect to see ECM activity remain high in the next quarter. This transaction is also a great example of CMS’s multi-jurisdictional capabilities and an endorsement of our TMT sector strength.”
Patrick Deller, Chief Financial Officer of ActiveOps, adds: “I am delighted that ActiveOps has successfully admitted to AIM today, this is a significant milestone for the group which will support us on the next stage of our growth. I would like to extend my thanks to the CMS team led by Jack Shepherd, for their help and support throughout the process. They have provided excellent advice in many areas and it has been a pleasure to work with a great team of professionals, who made a valuable contribution to the overall success of the transaction.”
The CMS team was led by Jack Shepherd and included Katie Hume, Jennifer Tambe, James Crossman, Nikita Patel, Alex Gradinaru, Rebecca Gallagher and David Rivera (Transactions); Graham Muir, Jasleen Kaur and Ellie Pardy (Share Incentives); Nicholas Brady and Parisa Ghatey-Fard (TMT); Emma Sweetman (Employment); Deepa Vallabh and Sihle Bulose (from CMS in South Africa); and Alicja Zalewska (from CMS in Poland).
