- Cloud-based software business CloudCall reported a rise in annual revenue as customer numbers climbed 12%.

For the year to 31 December 2021, revenues increased by 15% to £13.6 million and recurring revenues increased by 15% to £11.9 million when compared to the previous year.

'Trading for 2021 has been in line with management expectations and the group is pleased to confirm that it has achieved total revenues in line with the revised guidance issued during the second half of 2021,' the company said.

Looking ahead, the company continued to expect an overall earnings before interest, taxes, depreciation, and amortisation, or EBITDA, loss for the financial year to 31 December 2021 that would 'be slightly lower than previous guidance.

The company also said that it had determined that the takeover offer by Xplorer Capital was in 'the best interests of CloudCall shareholders and staff.'

On 9 December 2021, Xplorer Capital Growth I, LLC, or Xplorer Capital, and CloudCall said they had reached agreement on the terms of a recommended cash offer of 81.5 pence per share.

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