Dynamic Change Ltd Sold to Aim-listed Allocate Software for up to £9M

Dynamic Change Ltd, a Keele (Staffordshire), UK-based provider of regulatory compliance, corporate governance, risk and performance management software to the UK healthcare market, has been sold from venture capital company Midven to Aim-listed Allocate Software for up to £9m.
The deal generated an eight times cash multiple return for Midven’s Advantage Growth Fund, which provides venture capital to small and medium sized enterprises (SMEs) in the West Midlands.
The fund invested in Dynamic Change in 2003 at a time when the company had just two customers. The company has grown significantly since that time and now has 121 customers. If the full consideration is achieved the fund’s return will increase to 14 times the cash invested.
Allocate Software is a workforce optimisation software applications provider for public and private organisations with large, multi-skilled workforces. Its markets include defence, maritime, healthcare, and government and education.

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