Cyber innovation centre sells majority shareholding following HCR deal

24th January 2023

Hub8, Cheltenham’s centre for tech innovation, has sold its majority shareholding to London-based Plexal, who deliver the government backed NCSC for Startups Innovation Programme and help connect firms to investors following a deal advised on and supported by HCR.

The deal, led by Corporate Partner Derek Callanan and assisted by Senior Associates Peter Raybould and Rowena Kay, brings the Cheltenham cyber hub into sharp focus as a major player in Gloucestershire’s flourishing tech community.

Derek Callanan said: “Gloucestershire is often referred to as the UK’s cyber capital, and that has come from Cheltenham-based companies like Hub8 taking bold steps to nurture and grow the talent the county has to offer. I’m thrilled that HCR have played a part in their continued growth.”

Plexal’s expertise in closing the gap between startups, government, industry and academia to solve society’s challenges will be available to Hub8 to further enhance existing resources.

Rowena Kay said: “Supporting innovation and change is a cornerstone of HCR’s ethos – I’m excited to see how Hub8 and Plexal grow together and wish them the very best for the future. It’s great to think we as a law firm have been part of a new beginning for Hub8 which will have far-reaching benefits for many tech professionals.”

Bruce Gregory, Director at Hub 8 said: “The Hub8 and Plexal partnership started in 2019. It’s enabled us to share ideas, connect each other’s communities and create new initiatives to support our ongoing mission to build the UK’s most connected cyber ecosystem.

“Derek, Rowena, Peter and the team at HCR provided us with crucial support and advice to formalise our strategic partnership with Plexal that will take it to the next level and merge the national and local networks of technology partners that we’ve created respectively.”