International legal practice Osborne Clarke has advised the senior management team of Cloud Savings Company Limited on its acquisition of Invitation Digital Limited (“IDL”), owner and operator of the Vouchercloud and Giftcloud brands, following a management buy-out from the Vodafone Group, placing the company back in the hands of its original founders, Scott Davidson and Greg Le Tocq.
Vouchercloud is one of the UK’s leading voucher platforms, having revolutionised the marketplace with the launch of Europe’s first voucher app in 2010. Its sister company Giftcloud launched in 2014 as Europe’s first entirely digital gifting app and website, allowing users instant access to digital gift cards while also providing businesses with a fully digital rewards and loyalty solution.
Having advised Scott and Greg in 2012 when Vodafone took a controlling stake in the business, the management team of Cloud Savings Company is a long-standing and valued client of Osborne Clarke. The Osborne Clarke team that advised on the transaction was led by private equity Partner Alisdair Livingstone and finance Partner Tom Bussy.
Commenting on the matter, Alisdair Livingstone said: “Vouchercloud & Giftcloud are dynamic businesses that have gone from strength to strength. Having worked with the businesses since they were set up, it’s great to now see them back in the hands of the founders.”
Osborne Clarke’s private equity team is a leading Chambers and Legal 500-ranked practice, with Partners covering mainstream private equity, growth/development capital, venture and fund formation work in the UK and across Europe. The team works closely with Osborne Clarke’s sector specialists exploiting opportunities and doing deals in tech, media and comms, financial services/fintech, energy, real estate and retail/consumer.
Osborne Clarke regularly provide insights on connected consumer and regulatory issues at osborneclarke.com.