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Newcastle’s Salient Systems Limited bought by M Group Services

A Newcastle technology firm has been bought by a national operator.

Salient Systems Limited is now part of M Group Services.

Bosses at the latter say the deal for the utilities metering market software provider “adds further capabilities to its data management offering”.

Les Edgar, Salient director, said: “We’ve worked successfully with Callisto – part of M Group Services’ energy division – for several years, and are excited for our next chapter with them.

“I’m sure the business will go from strength-to-strength.”

Salient was supported by Azets’ Newcastle-based corporate finance and corporate tax teams on the sale.

Steve Plaskitt, Lucy Elliott and Oliver Williams, from Azets’ corporate finance team, worked closely with Alastair Wilson, Claire Smailes and Ryan Keltie from the corporate tax team to progress the deal.

Salient also received support from Newcastle-based law firm Sintons.

Steve, corporate finance partner [pictured, above], added: “It has been a pleasure to work closely with the team at Salient, and with Matt Collen and Jonathan Tutu at Sintons, to complete the deal.

“We wish the team all the best in their next exciting chapter.”