Former Shadow Secretary of State for Business, Innovation and Skills will support the company with its new accelerated growth phase
3rd June 2020 – Advanced, one of the UK’s largest software and services providers, has appointed Chuka Umunna, the former Shadow Secretary of State for Business, Innovation and Skills, as a non-exec director to its board. Chuka will advise the company on its accelerated growth plans post COVID-19, to become a £600m revenue business within the next five years.
With an extensive track record, including serving for a decade in a number of senior posts leading on economic, business and trade policy in Parliament, and several years advising businesses on their most challenging contentious, transactional and advisory matters as a corporate employment lawyer, Chuka will help drive Advanced’s longer term strategic initiatives. It’s a move that will help Advanced meet its ambition to become the number-one provider of business software solutions in the UK, while expanding its global footprint.
Commenting on the appointment, Chuka said: “I am delighted to be joining the board of Advanced as it moves into its next growth phase. This is an exciting time – its recent investment deal demonstrates huge confidence and optimism in the organisation and I’m looking forward to working with the team to develop its strategic plans as we look ahead to further acquisitions and organic growth across the business.”
In August 2019, Advanced secured investment from international private equity firm BC Partners, with Vista Equity Partners continuing as an investor, in a deal worth £2 billion. The investment will accelerate the growth of Advanced’s Cloud-based solutions across five key business areas: Enterprise Resource Planning (ERP), Health & Care, Education, Legal and Application Modernisation.
Advanced has undergone a sizeable transformation over the last five years, with its CEO Gordon Wilson realigning its structure and recruiting more than 900 new hires. The business has since launched 15 Cloud-based solutions and completed eight acquisitions, further extending its offerings to public, private and third sector organisations.
In recent months, Advanced acquired Tikit, a global legal, accounting and professional services software business, from BT Group plc. More acquisitions are in the pipeline, which will see Chuka act as a key advisor joining an already strong board.
Commenting on the appointment, Gordon said: “Having successfully navigated our way through the COVID-19 outbreak, we want to ensure our recovery is focused on our strategic growth and therefore now is the right time to bring an external advisor to our board. Chuka has the right experience and attributes to support our strategic initiatives and accelerate our growth as well as deliver real value and long-term benefits to our customers.”