Datatrial purchased by US investor

Datatrial purchased by US investor

Newcastle-based data and technology business Datatrial has been sold to a private equity investor in the USA.

The North East company, which specialises in the clinical trial sector across the globe, is hoping that the acquisition will set it up for future growh.

The deal, for an undisclosed sum, came after six months of negotiations by business and tax advisory firm Evolution and Datatrial.

Datratrial’s CEO, Dr Emma Banks, said: “Our intention is to grow our client base and our workforce in the coming years and this investment will secure those opportunities for us. 

“This complicated transaction has been completed because of the teamwork between Datatrial and the skill and diligence of David and his team.” 

David Bell, corporate finance director at Evolution, added: “This is the first transaction Evolution’s Newcastle team has completed and we are delighted to have got the deal over the line. 

“Working on a cross-border deal, involving a plethora of advisers, working against the clock and dealing with different time zones, was certainly a test. 

“Datatrial is precisely the sort of growing business the Evolution team specialises in dealing with and we look forward to helping them with their expansion plans in the coming months.”

 

 

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