24 November 2022
We have advised Shipyard Technology Ventures, a leading global venture builder, on the sale of BoatyardX, a high-growth custom software developer, to Ergo, Ireland’s largest privately-owned IT services company.
Co-created as part of the Shipyard Technology Ventures portfolio in 2019, BoatyardX has rapidly established a reputation for future-proofing businesses with robust open-source software and world-class UI/UX design. BoatyardX has significant expertise in building cloud-based custom software for clients in the fintech, payments, e-commerce and IoT sectors.
The transaction demonstrates the corporate innovation strategy of Shipyard Technology Ventures and supports Ergo’s plans to deepen its software development competencies, enabling Ergo to meet a growing demand for bespoke business critical applications and to build new products that address emerging market opportunities.
Commenting on this transaction, M&A partner and head of the firm's Dublin office, Adam Griffiths said: "We are very pleased to have supported Shipyard Technology Ventures on this transaction. With strategic guidance and support from Shipyard Technology Ventures, BoatyardX has achieved fantastic growth and developed a strong customer base in a very short period of time. The unique approach of the Shipyard Technology Ventures team is a great example of venture building and corporate innovation in the tech sector."
Garry Lyons, CEO of Shipyard Technology Ventures, said: "We are very grateful to Adam and the rest of the Taylor Wessing team for their advice and support during the sale process. Their thoughtful yet dynamic approach and commitment to the transaction was impressive."
The team was led by partner Adam Griffiths with support from associates Ameer Gazder, Rachel Mc Causland and Kevin Keenan. Partner Mark Owen and associate Noelle Huang on IP aspects.
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