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Equity firm takes majority stake in £38million tech company

Cloud provider FourNet receives private equity backing from Palatine

Our new partnership with Palatine further positions us as a prime player in the technology sector and we are delighted to be working with their team, FourNet CEO Richard Pennington said. The pandemic has been a catalyst for significant change in working practices and our industry over the past 12 months and fresh investment will enable FourNet to rapidly meet the changing needs of our customers, many of whom are critical to the UK s success following the pandemic, and to build and acquire the additional capabilities that our customers require. Palatine s investment will keep FourNet at the forefront of the industry and will also provide the fuel for us to lead further change across the sector, while allowing us to capitalise on the rapid growth in demand for cloud, collaboration and managed service solutions.

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