CIO Connect is an independent networking forum for chief information officers (CIOs), claiming to have more than 250 members, most in the FTSE 250 or big public sector companies.
The management team was led by CIO Connect chief executive Nick Kirkland and had support from secondary venture capital investments specialists Shackleton Ventures. They bought CIO Connect for an undisclosed figure.
Kirkland said that he and his team bought out CIO Connect from the NCC because independence would be beneficial for the CIO members. "Independence allows us to completely dedicate our organisation to the CIO and their agenda," he said.
"We are now free to make additional investment in the network to further improve on the experience members receive, including investment in member relationship and services," he said.
CIO Connect is a forum offering networking services, experience sharing and leadership development training between CIO members. It achieves this with a programme of events including conferences and roundtables, as well as an online information service, a quarterly magazine and regular research on topics relevant to CIOs.
The NCC is one of the UK's leading IT membership organisations serving corporate, vendor and the public sector. It said that selling off CIO Connect would allow it to focus on other projects.
"This is very good news for CIO Connect and the NCC," said Michael Gough, NCC's chief executive. "This additional investment in CIO Connect will enable it to grow to the next level and allows NCC to focus on its mission of championing the effective management of IT in the UK."
