Sun Mountain Partners, based in Massachusetts, has acquired 31,764,704 ordinary shares, a holding of just under 11.8%.

According to its most recent report and accounts, this makes Sun Mountain Partners a top three shareholder alongside Langfristige Investoren and Value Focus Beteiligungs.

Grafenia is now focused on acquiring software businesses, and recently raised £23.4m for its M&A drive. Its most recent year-end turnover was £12.55m.