Debono Group is officially announcing the sale of its shareholding in iMovo Limited to Deloitte Malta. This marks a significant milestone in iMovo’s journey, a trajectory which Debono Group has been involved in from its inception to the highly successful company it is today.
Founded in 2010, iMovo Limited is an innovative technology consulting firm committed to enhancing business agility and customer experiences through digital transformation. Debono Group played a crucial role right from the early pre-launch phases by providing both capital and strategic input, helping to shape iMovo’s positioning, grow the business and expand its business network. The decision to exit was made while the company is performing strongly, capitalising on its high standing to ensure optimal outcomes for all stakeholders involved.
Geoffrey Debono, CEO of Debono Group commented: “Our decision to undertake this strategic business exit comes on the back of an excellent business relationship between the Group and iMovo Limited, which has been both productive and mutually beneficial over the years. This move aligns with our core strategic focus – to continuously adapt and innovate in our operations, ensuring we drive long-term growth and value. We are grateful to the founding shareholders of iMovo Limited whose expertise and drive for innovation serve as a prime example of the entrepreneurial spirit that fuels industry advancements and economic growth.”
Michael Debono, the Head of Debono Group’s investment arm, further elaborated: “We are extremely proud of iMovo’s success, as it clearly demonstrates the significance of investment by established groups like ours to bridge funding gaps. This accomplishment solidifies Debono Group’s role within the venture capital ecosystem and reinforces our track record of successfully nurturing and growing valuable brands. Meanwhile, our focus remains on strengthening and enhancing the capabilities of our existing group entities, as we remain open to new opportunities.”
