16 jobs were saved with the acquisition of Gather by Raman Power. The deal was overseen by ReSolve, which undertook an accelerated merger and acquisition process to save Gather – which had been struggling since the Covid-19 pandemic.
Raman Power Technologies is a company that provides an attack surface management platform that helps protect customers’ infrastructure from cyber threats. This includes critical power, cybersecurity, IT equipment and management solutions.
The Covid-19 pandemic has seen the demand for cybersecurity services increase as many businesses have experienced increased levels of cyberattacks. As many businesses rushed to digital platforms to enable working from home, they found themselves increasingly exposed to crime and sought help from professional services firms like Raman.
At the same time, this disruption had the opposite impact on Gather, a data service provider with proprietary technology and a strong enterprise customer base. A family business for over 50 years, its platforms are used around the world for customer acquisition and data. Built for GDPR compliance, security, and scalability, Gather’s offerings drive steady, recurring revenue every year with proven account growth and cross-selling opportunities.
The pandemic caused significant disruption to business as the country entered lockdown and all face-to-face events ceased, resulting in a significant drop in revenue generated through Gather’s event services software. The company then struggled to make up lost momentum, with the global event and exhibition industries not expected to return to pre-pandemic levels until 2023. This led to a significant drop in revenue, and despite work company to diversify its product offerings, in the summer of 2022, Gather needed an urgent investment to cover working capital.
ReSolve, a boutique specializing in business advice, restructuring and investment, connected the two companies to ensure a better future for them. Gather’s sale to Raman Power’s Raman Microtech saved its 16 jobs.
Surendra Patel, Director of Raman Microtech, said, “Gather is a fantastic company with a very strong customer base and a sustainable and scalable business model. We are delighted to welcome them home and look forward to a bright future with Gather under the ownership of Raman Microtech.
ReSolve has been working since October 2022 to conduct an expedited merger and acquisition process to save the business or find a buyer for the business. ReSolve marketed the business as widely as possible and directly approached about 700 parties about the opportunity.
Mark Supperstone, Senior Partner at ReSolve, said, “Gather is a fantastic company with a very strong customer base and a sustainable and scalable business model. We are delighted that we have been able to work, through this expedited process, to find Gather a great new home with Ramen Microtech, and allow it to continue to trade and, over time, grow. We are committed to SMEs across the UK and look forward to working with others as they try to get back on their feet after the pandemic. »
