Cirata clients have included Barclays, Daimler, games maker EA and GoDaddy

Cirata execs have breathed a sigh of relief after the financial regulator closed a two-year investigation into the software firm, drawing a line under the dramatic events that caused the firm’s stock to plummet.

In March 2023, Cirata – or Wandisco, as it was then known – revealed it had massively overstated its sales figures, a move which triggered an investigation by the Financial Conduct Authority (FCA).

Wandisco saw its shares collapse from a high of £13 to just a few pennies overnight. Execs at the board quit, and the company changed its name to Cirata, with former Sage boss Stephen Kelly brought in as the new chief executive in a bid to rescue the business.

The FCA today said it had closed its investigation

See Full Page