Edinburgh SaaS Firm Sharktower Bought by Data Consultant Proteus

David Paul

21 February 2022, 01.11pm

The deal will allow for expansion to target corporations, charities, and private equity firms, as well as scale-up businesses.

Data consultant Proteus has announced the acquisition of intelligent change delivery platform Sharktower for an undisclosed seven-figure sum.

Proteus said it can now extend its business to target corporates, charities and private equity firms, as well as scale-up businesses.

The acquisition will also provide an exit for their investor base including main backers Equity Gap and Scottish Enterprise.

Additionally, Sharktower CEO Craig Mackay will become Chief Technology & Product Officer at Proteus, while his co-founder Lynsey Taylor takes the role of Chief Client Experience Director at the company.

Mackay will also join the Proteus executive team, which is made up of CEO Jason Sahota, CGO Tony Russell, CFO Lorainne Nichols, and board chair Ronnie McCombe.

Commenting on the acquisition, Sahota said: “This is the beginning of a new dawn for managing and predicting change in organisations globally.

“The Sharktower platform is second-to-none, and by bringing it into the Proteus product suite we are offering something truly unique to the market.

“Businesses are growing tired of the ‘land and expand’ approach from traditional consultancies, which create a dependency on outsourcing change and fail to upskill teams for the future. Leaders need a new solution; our integrated proposition means we can provide empowering data-led support at every stage of the journey that looks out of the windscreen, not the rear-view mirror.”

Founded in 1999, Proteus said its aims is to help firms to “transform” by giving them the tools to plan, manage, and measure major transformation programmes in-house.

Edinburgh-based SaaS company Sharktower developed its platform to allow corporate and scale-up businesses to deliver their objectives more confidently and consistently.

Mackay said: “For too long, businesses have seen change as a necessary evil, often prompted by crisis or failure. But we are living in a period of continual change; economic, technological and social shifts are transforming business, and the pandemic has only accelerated the need for leaders to see change as part of everyday life if they are to build a sustainable future.

“We’re proud to join forces with Proteus to become the only platform dedicated to continual data-driven business change.

“There is a strong cultural and ideological fit, and we’re confident that by combining our technology, data, and codified expertise the business will go from strength to strength.”

Kerry Sharp, Director of Growth Investments at Scottish Enterprise added: “Scottish Enterprise has been pleased to support and invest in Sharktower alongside Equity Gap.

“The acquisition by Proteus is a really positive development that will provide the company with a strong platform to achieve further growth, including the future creation of new jobs, as the company remains in Scotland under the Proteus banner.”

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