Help desk software developer Royalblue Technologies is to split from parent company Royalblue Group following a management buy out (MBO). The firm said that the move could increase channel sales.
The MBO is being led by Royalblue Technologies' existing management team, chief operating officer Graham Ridgeway and sales and marketing director Lee Chadwick, backed by a venture capital loan.
As a result of the buy out the company will be renamed, said Chadwick, but the new name will not be revealed for at least another eight weeks while the final paperwork is completed.
"Over the last few years we've seen several mergers and acquisitions which have left customers stranded and forced to migrate to new packages," he said, adding that the MBO would enable the firm to focus on the IT support market.
"The only effect the MBO will have on our channel partners is on the side of corporate re-branding," Chadwick explained.
The company, whose products are used in the US, Australia and Europe, currently generates 15 per cent of its total UK turnover through the UK channel. The remainder is generated from direct sales.
Chadwick said that once the MBO is complete, the company will be "taking a long look at itself" and the possibility of expanding the number of UK channel partners will "definitely" be on the agenda.
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