Sorted Acquisition: Delivery Tech Firm Secures £66.73 Deal After $100M Funding

Manchester-based delivery tech firm Sorted has undergone a significant development with its acquisition by AIM-listed company Location Sciences. This reverse takeover, valued at a nominal fee of £66.73, comes after Sorted raised over £70 million and secured its place as a key player in the delivery technology sector.

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The Acquisition Deal

The acquisition by Location Sciences, a publicly listed advertising technology firm, positions Sorted for a new chapter. Despite Dealroom estimates suggesting Sorted’s value to be as high as £189.4 million, the acquisition was finalized for a nominal fee, signaling a strategic move by Location Sciences. The deal represents a significant opportunity for Location Sciences to capitalize on Sorted’s leading-edge technology and substantial capital investment, consolidating their position in the delivery tech industry.

Sorted’s Journey and Funding

Having raised over £70 million in funding throughout the years, Sorted’s journey has been marked by notable achievements. In 2021, the company’s estimated value reached as high as £189.4 million following a £35.3 million Series C funding round. Additionally, Sorted expanded its capabilities through the acquisition of automated returns startup Clicksit. Despite financial difficulties and a £3 million loan investment in 2022, Sorted continued to play a vital role in optimizing delivery processes.

Strategic Value and Technological Edge

Location Sciences recognizes the strategic value of acquiring Sorted, emphasizing its leading-edge technology as a key asset. The deal allows Location Sciences to harness Sorted’s expertise in delivery tech, providing a pathway for enhanced technological integration and innovation. Sorted’s software solutions, developed over the years, have garnered recognition from major ecommerce partners, including Asda, Lush, and ASOS.

Employee Transition and Outstanding Debt

With over 60 employees, Sorted is set to become an integral part of the Location Sciences team. The acquisition includes Location Sciences assuming the entirety of Sorted’s outstanding debt, amounting to approximately £4.7 million. This strategic move aligns with Location Sciences’ broader goals and underscores the comprehensive nature of the acquisition.

The acquisition of Sorted by Location Sciences marks a pivotal moment in the evolution of delivery technology. Explore the transformative landscape of technology acquisitions and strategic partnerships in our feature article, Obrizum’s AI Military Training, to gain insights into how companies navigate complex terrain and leverage cutting-edge technologies.

Sorted’s journey, marked by significant funding and industry recognition, positions it as a valuable asset in Location Sciences’ portfolio. The strategic move allows Location Sciences to capitalize on Sorted’s leading-edge technology and substantial capital investment, ensuring a seamless transition for both companies. As the delivery tech landscape continues to evolve, this acquisition sets the stage for collaborative innovation and technological advancement in the industry.

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