Panintelligence Launches as a Separate Company
Pancredit Systems Ltd (Pancredit), the former parent company of Panintelligence, has recently been acquired by the Equiniti Group. Equiniti is a trusted partner to some of the best known brands and public sector organisations in the UK and a recognised leader in core markets including pensions, share registration and employee benefits. Panintelligence, the business intelligence software trading style of Pancredit, has been acquired in a separate deal by several senior existing shareholders from Pancredit and with financial investment from venture capitalist Shackleton Ventures.
Shackleton specialise in technology markets and have been investors in Pancredit for many years until the recent acquisition. In 2013 Pancredit announced record financial results for FY2012 and strong projected revenues for 2013. During this period Panintelligence continued to gain momentum in a range of markets where it had an existing presence, as well as breaking ground in new markets. New customer wins came across a range of sectors including automotive, education, financial services and service management. These include document management software reseller Document Logistix and Super League rugby team, Leeds Rhinos.
Partner Channel investment
Panintelligence launches as a separate company and it has also invested in its partner channel with the appointment of a Partner Manager to engage with the growing number of partners in both the public and private sectors. New partners who recently signed up to provide business intelligence to their customers include ISM Business Solutions, Kinspeed and Wharncliffe, who are all Sage business partners. Mike Cripps, Managing Director of Panintelligence, said “The acquisition of Pancredit by Equiniti presented us with an exciting opportunity at Panintelligence that came at the right time for the business.
puWe’ve seen business intelligence software continue to grow and become a necessary requirement in organisations for day to day internal purposes, as well as helping companies engage more closely with their customers. The amount of data being recorded on a daily basis in all companies, regardless of industry, is continuing to rise every year. Organisations need an effective way to manage and analyse their data which business intelligence provides.”
Pancredit will continue to work closely with Panintelligence and will offer business intelligence software to its customers as an OEM customer of Panintelligence. Graham Donald, Managing Director of Pancredit, said “I am delighted about the acquisition as Pancredit will gain the scale, support and stability of becoming an Equiniti group company, but at the same time retain our unique identity. I am also excited for my colleagues at Panintelligence and the opportunities this new chapter presents for the business. We will continue to work very closely with them to deliver business intelligence software into the financial market and I wish them all the best for the future.”