COMS PLC ACQUIRES CLOUDXL

Synova Capital LLP (“Synova”), a leading investor into UK growth companies, today announces the sale of portfolio company cloudxl to Coms plc (“Coms”).

Under Synova’s ownership turnover has increased by 70% from £6.2m in the year to 31 December 2010 to £10.5m in the year to 31 December 2013.

The acquisition will be highly complementary to Coms’ existing businesses, with an extension of the customer base and the possibility to target cross-selling opportunities and deliver increased services via the cloud.