Ince & Co advised the majority shareholders of Interactive Ideas, a leading enterprise software distributor, on the sale of its business to Storit, an award-winning, value added distributor (VAD) of data storage, software solutions, networking and IT related products and services. The terms of the deal are confidential.
 
Interactive Ideas is a leading UK VAD of enterprise software focused on IT infrastructure solutions, founded in 1994 by Michael Trup and Grahame Fernback.
 
Following the sale, Interactive Ideas’ team will form part of Storit’s subsidiary CMS Distribution, but its brand will continue for the foreseeable future and Michael Trup will remain as managing director. The deal, which closed on November 1, 2013, creates a VAD with a turnover of £166 million, making what is believed to be the largest VAD in the UK and Ireland.
 
Michael Trup comments: “Ince & Co provided us with invaluable support during the transaction. The opportunities that lie ahead for Interactive Ideas are tremendous, given the enhanced offer arising from the combination with Storit. Matthew Stratton and the Ince team worked hard to achieve our objectives and we are delighted with the outcome.”
 
London-based senior associate Matthew Stratton (pictured) said: “We are delighted to have advised the majority sellers of Interactive Ideas on this significant deal in the information technology and services industry. We are seeing increasing M&A activity not only in the UK information technology market, which reflects a general upturn in the economy, but also in our core sectors of shipping and energy related transactions. It is always exciting to see our clients grow and prosper.”
 
Matthew Stratton and Stephen Jarvis (partner) led the Ince team which included Trevor Garrood (real estate), Clare Smith (tax), Richard Hyman (corporate) and trainee Antony Brook.