LONDON (ShareCast) - (Sharecast News) - Investment firm Oakley Capital has agreed to acquire a majority stake in German consumer technology company Seven Miles, partnering with its founders, Tom Schröder and Valentin Schütt.
Oakley said its investment in Seven Miles, which offers a diverse range of gift card and employee incentive subscription products to both consumers and businesses, continued the group's "successful track record" of backing founder managers in consumer technology platforms.

The AIM-listed group will support Seven Miles' current management team to create a sustainable platform and continue its strong growth and leadership in product innovation.

Oakley Capital Investments' indirect contribution through its interest in Fund IV will be approximately £25.0m. The transaction was expected to complete by the end of September 2019.

Managing partner Peter Dubens said: "Seven Miles exhibits many of the characteristics Oakley looks for in a deal - a founder-led, high growth business with a leading position in its niche market, and we look forward to the opportunity we have to build and develop the digital platform together."

As of 0900 BST, Oakley shares had dipped 0.71% to 223.40p.

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