To enable it to "grow to the next level"
By Nick Heath
Published: 19 February 2008 14:22 GMT
A management-led buyout team has bought IT management networking organisation CIO Connect from the National Computing Centre (NCC).
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The buyout was led by CIO Connect CEO Nick Kirkland and supported by investment from Shackleton Ventures.
The new owner, who bought the business for an undisclosed sum, promised further investment to enhance the membership organisation dedicated to CIOs and their teams.
Kirkland said there would be new funding for member relationships and services. "Independence allows us to completely dedicate our organisation to the CIO and their agenda," he said in a statement.
Michael Gough, NCC's CEO, said the extra investment in CIO Connect would enable it to "grow to the next level" and focus on "championing" the "professional management of IT within the UK".
Hugh Stewart, managing partner with Shackleton, will join the CIO Connect board.
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