RealVNC, the original developer of VNC remote access and support software, has today announced that their VNC Automotive division has been launched as an independent company through a management buyout agreement. Effective immediately, the division will begin operating as VNC Automotive Limited with a mission to provide its existing customers, and the broader automotive industry, with state-of-the-art connectivity software for in-car infotainment and telematics applications. Acuity’s Andy Lister advised RealVNC on this transaction.
Over the last decade, the VNC Automotive division developed a global reputation for delivering car connectivity solutions across the automotive industry, with 15 OEMs and software installed in more than 20 million cars. To facilitate the on-going growth of this successful division, the RealVNC executive team negotiated a private management buyout, and will assist the new business through a six-month operational transition to ensure a smooth migration to full independence.
“The entire RealVNC team is very excited to support the VNC Automotive division on its own autonomous business trajectory with this management buyout.” commented Adam Greenwood-Byrne, CEO at RealVNC Limited. “The VNC Automotive team have clearly demonstrated the quality and value of their car connectivity software to the automotive industry and this move is the next logical step for the evolution of their business. This gives them the independence to define the technology roadmap and strategic objectives for their future. While we will be sad to see our VNC Automotive colleagues leave the company, this is a fantastic opportunity and we will do everything we can to ensure their future success.”
“Driven by the interests of our customers, partners and employees, we have worked hard over the last few months to make this management buyout a reality,” explained Tom Blackie, CEO at VNC Automotive Limited. “We thank RealVNC for their support over the last few years and for enabling this exciting opportunity. Everyone in the team is incredibly enthusiastic about the opportunities that are created by the formation of VNC Automotive Limited and it’s great news for all the stakeholders. We now have full control of our technology strategy so can develop even more innovative solutions for the automotive industry. It’s tremendous to be working in such an exciting market and we are confident that the new VNC Automotive Limited is very well positioned to be a major player in this dynamic ecosystem.”
RealVNC’s remote access and support software is used by hundreds of millions of people worldwide in every sector of industry, government and education. Our software helps organizations to cut costs and improve the quality of supporting remote computers and applications. RealVNC is the original developer of VNC remote access software and supports an unrivalled mix of desktop and mobile platforms. Using our software SDKs, third-party technology companies also embed remote access technology directly into their products through OEM agreements.
RealVNC and VNC are trademarks of RealVNC Limited and are protected by trademark registrations and/or pending trademark applications in the European Union, United States of America and other jurisdictions.
Adam Byrne, CEO, RealVNC, commented:
“I would like to thank Andy and the Acuity team for their assistance throughout the process. Andy was instrumental in ensuring this deal happened, adopting a hands-on approach throughout, guiding us through the process and helping us navigate towards a successful completion.”
Andy Lister, Partner at Acuity, said:
“It has been a pleasure to work with RealVNC – the original inventors of remote screen sharing technology and one of Cambridge’s leading software companies – on this transaction. VNC Automotive operates in a rapidly growing and dynamic market, with car-smartphone connectivity expected to be ubiquitous within the next 10 years as consumers increasingly demand familiar navigation, messaging and music apps whilst driving. We wish Tom Blackie and his team the very best as they build on their leading market position and expand into new areas of car connectivity such as real-time telematics.”
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I would like to thank Andy and the Acuity team for their assistance throughout the process. Andy was instrumental in ensuring this deal happened, adopting a hands-on approach throughout, guiding us through the process and helping us navigate towards a successful completionAdam Byrne, CEO RealVNC
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