Venture capital house Strive Capital has acquired a majority stake in education-specialist Apple reseller Academia, which provides IT services, particularly to thousands of schools, colleges and universities across the UK.
Strive Capital stated it will help London-based Academia continue its year-on-year growth, while expanding and diversifying into additional markets and services. It said it will also help Academia fund its M&A ambitions, as well as enhancing future developments into existing propositions.
San Francisco-based Strive was recently launched by Andrew Harman, who founded technology services firm Annodata, and Joe Kelly, a former managing director and chief financial officer with more than 25 years’ experience in technology businesses.
Harman said: “Strive was built by entrepreneurs to support entrepreneurs. We understand how hard it is for companies to grow – particularly in the current climate and that is where we strongly believe we can make a difference. Leveraging the collective experience and knowledge between myself and Joe, we want to work with companies we can go on a journey with together.
“Academia has an excellent heritage in providing IT services, particularly to thousands of schools, colleges and universities across the UK and has a very strong and experienced management team. Having acquired a major shareholding in the company, we see huge potential to significantly enhance Academia’s managed service offering into complementary product lines and markets.
“We see a gap in the market for companies like Academia to differentiate themselves by providing a fully managed service, taking the headache away from customers dealing with multiple vendors and suppliers. In turn, we’re confident this will enable businesses, like Academia and others, to reach new levels of success.”
Date published: 9 October 2020