Andrew Evans CEO of EAMS Group with Marko Stanisavljevic, managing technical architect at Inspiresoft
Canary Wharf software company, EAMS Group, has secured a £700,000 deal with HSBC UK to bolster its growing team and to be used in part to acquire Serbian software business Inspiresoft.
EAMS Group provides enterprise asset management software solutions to a range of large organisations including Transport for London, Amtrak, Dublin Airport, Grupo Bimbo and Network Rail. The deal with HSBC UK will help the group develop and deploy software in the future while growing its presence in new and emerging markets.
The funding was made possible through HSBC UK’s first use of its new Intellectual Property (IP) Lending Proposition. With most of EAMS Group’s assets lying in software, rather than physical assets, the bank used a unique valuation process to understand the hidden value of the group’s IP in order to provide the funds EAMS Group needed to realise its growth plans.
Laura Murray, HSBC UK’s area director for corporate banking in East London and Canary Wharf, said: “In the 12 years it has been in operation, EAMS Group has managed to expand rapidly with industry-focused solutions now used around the world by a customer base that’s constantly growing. We are delighted to have used our new Intellectual Property Lending Proposition to enable us to support such an ambitious research and development start-up on its journey to expansion.”
Andrew Evans, CEO at EAMS, added: “Our relationship director at HSBC, Tim Hamon Watt, was very helpful and signposted us to the correct product to match with our company’s profile. We are looking forward to establishing our additional European base and taking on more exciting projects, customers and employees thanks to HSBC backing our IP.”
Established in 2006 by business partners Andrew Evans, James Foley and Rob Carew –EAMS Group provides innovative asset management industry software solutions to major companies across the globe. EAMS Group positively disrupts the asset management space with industry-based solutions that enable improvements in safety, reliability, capacity and performance and provides the customer with an improved experience.
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