Mills & Reeve advises on £18.1m sale of Allinea Software Limited

We have advised the majority shareholders on the sale of the entire issued share capital in Allinea Software Limited to global technology giant ARM Limited for £18.1 million.

Allinea Software, which creates software tools for developing and optimising high performance computing applications, was created in 2009 after a management buyout from another University of Warwick, who are also a Mills & Reeve client, spinout. The MBO was backed by West Midlands funder Mercia Technologies, another Mills & Reeve client, for whom today's sale represents a return of more than 20 times the original investment cost. 

Allinea has offices in the United States, Europe and Japan, and its software is used in circa 70 per cent of the world's largest supercomputers. 

Our team was led by Anthony McGurk and Junaid Haroon who were assisted by Tom Amarnani, Thomas Matthewman, Kevin Lowe, Christopher Townsend, Carrie Ferris, David Hall, Vinny Maggio and Robyn Gee. Corporate finance advice was provided to Allinea by Acuity Advisors Ltd, led by Matthew Byatt and Marcus Allchurch.

Dr Mark Payton, chief executive of Mercia Technologies, said “As a Midlands-based business, this is further evidence of the hidden value we are able to unearth from the UK regions and our university partnerships”.

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