HAVING co-founded Stream Technologies nearly two decades ago, Nigel Chadwick and Kevin McDowall were never going to sell the software platform they have patiently developed to any old buyer. And it seems their patience has been rewarded.
In selling their Glasgow-based firm to Arm Holdings, the global chip designer owned by Japan’s SoftBank, it has become part of a group that will help the entrepreneurs realise their long-held vision of data connectivity between literally billions of everyday devices.
The deal is a further boost to the already-burgeoning reputation of Scotland’s tech industry, which in recent years has spawned the likes of Skyscanner and FreeAgent, both of which were ultimately sold in big-money deals.
Crucially, as has happened with Skyscanner’s new owner Ctrip, the signs are that Arm is willing to invest to develop further the talent pool built up by Stream Technologies.
This is especially welcome at a time when there is still certainty over the ultimate shape of Brexit, and how the UK’s departure from the European Union will affect the ability of companies to trade.
There is an important message in the Stream Technologies story too.
It relates to the conviction retained by Mr Chadwick and Mr McDowall in the power of their vision and their determination to see it through – no matter how long it took and how tough the journey sometimes got.
As Mr Chadwick observed, the rewards are surely there for other entrepreneurs in Scotland – if they are willing to show patience, hard work and commitment to their ideas.
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