Vodafone Sells Invitation Digital Limited Back to Founders

Vodafone Group PLC (VOD.LN) said Monday that it has sold Invitation Digital Limited, the owner and operator of Vouchercloud and Giftcloud, to Cloud Savings Company Limited for an undisclosed amount.

Cloud Savings Company said it acquired Invitation Digital in a management buyout from Vodafone, thereby putting Invitation Digital back into the hands of original founders Scott Davidson and Greg Le Tocq.

Vodafone first bought into Invitation Digital in 2011, before becoming the majority shareholder of the company in 2012.

Cloud Savings Company said that the transaction was funded by a debt facility provided by Perwyn LLP.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

January 15, 2018 09:57 ET (14:57 GMT)