Cambridge-based VNC Automotive, owned by Tom Blackie, has completed a management buyout of RealVNC’s automotive division using a seven-figure funding package from HSBC UK.
VNC Automotive firmly in the driving seat with HSBC support
Tom Blackie was instrumental in setting up the automotive arm of RealVNC in 2009, providing manufacturers of electronic car equipment with state-of-the-art software solutions for car to smartphone connectivity. Now trading as VNC Automotive Limited, the team will continue to work with its existing clients while bringing new staff members on board to help the business build new partnerships with manufacturers.
Tom Blackie, Chief Executive Officer at VNC Automotive Limited said: “Thanks to HSBC’s funding, I’ve been able to forge my own company and I’m really excited about the opportunity I now have to improve and expand the business.
“One of my main objectives over the next 12 months is to take on new team members with extensive experience in this industry in order to help us serve our current customers better as well as be in a stronger position to go after new business.”
David Skipp, HSBC UK’s Area Director for Business Banking in Cambridgeshire, Essex and Suffolk, said: “We are delighted to have supported Tom’s acquisition of the business he helped set up a decade ago. He has a clear idea of what he wants the future of VNC Automotive to look like and, with a well-established presence in the market and the team’s technological expertise, the company is in a strong position to grow substantially over the next few years.”
As one of the world’s largest banks, HSBC supports over 1 million businesses in the UK and more than 37 million customers worldwide. This year, we won ‘Best Business Banking Provider’ at the British Bank Awards 2018.
We are committed to working with UK SMEs to help them realise their ambitions and over the past three years have committed £34bn in lending to enterprises in this sector.
Our international network gives us access to around 90% of world trade flows, so we are uniquely positioned to support the ambitions of internationally-minded businesses.
We aim to partner with businesses, rather than just provide products. To that end, we offer guidance through a range of channels, including our regional Strategies for Growth events, our HSBC Knowledge Centre and our Financial Wellbeing programme.