The founders of the UK’s fastest growing technology company have bought back the business they sold to a billion pound FTSE firm just five years ago.
FTSE 100-listed Reed Elsevier snapped up online business-to-business marketplace Approved Index in 2008 for an undisclosed sum. London-based Reed Elsevier publishes information for the science, medical, legal, risk and business sectors and has a £6 billion turnover.
Approved Index’s co-founders used the proceeds from the sale to set up MVF Global, a Kentish Town-based business that uses technology to drum up new business for clients including EDF, British Gas, Mars and Nestle.
MVF was recently named the fastest growing technology company in the UK by the Sunday Times, with sales increases averaging 289% every year for the past three years.
The business, founded in 2009, turned over £13.9m last year and the company has now bought back Approved Index from Reed.
MVF co-founder and chief executive Titus Sharpe said: “It’s incredibly satisfying. It really was the making of me when I sold it. I have a great affection for the brand.”
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