Impero, an edtech software company based in the UK, has been acquired by Investcorp Technology Partners for £27.5 million.
Impero, founded in 2002 in Nottingham, develops school network management software for the education sector for classroom monitoring and student safety online. The company has sold its software in 90 countries and has around $10 million in revenues.
Investcorp said in a statement that it will support Impero’s growth with further acquisitions to aid its expansion into more markets.
“The mission critical nature of Impero’s product offering, its strong reputation with customers and its attractive growth prospects in the UK and abroad represent a very attractive investment opportunity for Investcorp Technology Partners,” said Gilbert Kamieniecky, managing director of Investcorp.
The acquisition marks the latest investment for Investcorp’s fourth technology fund. It recently acquired SME marketplace Ageras and cloud software firm Calligo.
As part of the deal, Investcorp’s Gilbert Kamieniecky and Julian Bennet will join Impero’s board as non-executive directors.