Dealmakers at Square One Law advise Synety Group plc on latest £3.3m share offer

The Leicester-based telecommunications and software firm placed over four million shares on AIM

Jeremy Swift (left) and Jemil Visram (right), part of the team that advised on the fundraising
Jeremy Swift (left) and Jemil Visram (right), part of the team that advised on the fundraising

Newcastle-based commercial law firm Square One Law have advised Synety Group plc in £3.3m share offer.

The Leicester-based provider of cloud based telecommunications and software raised around £3.3m in a placing and open offer of over four million shares on AIM, where it has been listed since 2012.

It follows a previous fundraising move in 2014 when the firm issued 1.8m shares, which along with an additional offer to existing shareholders at the time, generated £5m to fuel its UK expansion.

Square One Law also advised on the move.

Funds raised from the latest placing will be put towards winning new work and on-going product development across the firm’s UK and US operations.

The Square One Law team, was led by partner Jeremy Swift, and assisted by associate Jemil Visram and trainee Ricky Handa.

Mr Swift said: “Synety is a longstanding client of the firm and I am delighted that yet another fundraising was oversubscribed.

“This highlights that investors continue to share in management’s confidence in Synety’s potential for future growth.”

Simon Cleaver, executive chairman of Synety said: “I have worked with Jeremy and the Square One Law team on a number of deals over the last few years and I was again pleased with their assistance in getting this transaction over the line.”

Synety Group is the company behind cloud-based unified telecommunications and recording service Synety Cloudcall.

The technology allows businesses to log, record and replay telephone calls from their own customer relationship management (CRM) software, without the need to use new phone systems.

In July 2014 the firm opened a US office in Boston where it has been accruing customers in fertile CRM market.

Synety also recently announced it had completed a deal with US computer technology giant Oracle to integrate its CloudCall product with Oracle Sales Cloud CRM.

Journalists

David Whetstone
Culture Editor
Graeme Whitfield
Business Editor
Mark Douglas
Newcastle United Editor
Stuart Rayner
Sports Writer