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Leicestershire-based e-bate has been acquired from administration by e-bate Software Limited, a new company formed from Evolved Ideas, which provides bespoke software development, technology consultancy, and staff augmentation services.
e-bate, established in 2018 by entrepreneur Leanne Bonner-Cooke MBE, entered administration on August 21. The firm specialises in software for managing and simplifying rebate and promotional incentive schemes. In 2022, e-bate raised £1.3 million through the MEIF Proof of Concept & Early Stage Fund, managed by Mercia, part of the Midlands Engine Investment Fund, along with contributions from Mercia’s EIS Funds and angel investors.
Colette Wyatt, CEO of Evolved Ideas and a former founder of e-bate, stated, “This acquisition represents a major milestone for Evolved Ideas and the rebate management sector. Acquiring e-bate ensures continuity of high-quality service for its customers. Our partnership with Enable enhances our technical capabilities and provides solid financial support.”
Andrew Butt, founder and CEO of Enable, remarked, “Our collaboration with Evolved Ideas and our financial investment are intended to increase value for rebate strategists. The industry is undergoing significant changes due to technological advancements, and this partnership will foster innovation and set new standards. Enable’s previous acquisition of Profectus’s Rebate Deal Management arm and our recent introduction of AI-based analytics for rebates reflect our dedication to progressing the industry. This strategic alliance with Evolved Ideas is a key step in enhancing trading relationships through effective rebate management.”
e-bate employed 29 people at the end of its latest accounting period in March this year.
