Hadston 2 permitted to buy UKCloud

Hadston 2 has got the nod to buy the MSP UKCloud under the National Security and Investment Act.

For those not in the know, Hadston 2 is a newly created special-purpose investment company led by entrepreneur and UKCloud Chairman Jeff Thomas and backed by existing institutional investors including BGF and Digital Alpha.

The partner says the “significant” new investment will allow it to begin executing its strategic plan, while “redoubling its commitment to the UK’s technology sector”.

The multi-cloud experts added that approval of the new investment will pave the way for the expansion of UKCloud’s product portfolio.

This includes “significant enhancements in its platform and services, and investment in its people over the coming months”.

Simon Hansford, CEO at UKCloud, said: “UKCloud has an exciting and vibrant future, embracing a new strategic direction, engaging collaboratively with globally recognised technology companies to deliver first-class client solutions to our UK customers.

“UKCloud will be making significant investments in its platform, services and people over the coming months following the approval of funding under the National Security & Investment Act.”