JUMPSTART, the Edinburgh-based research and development tax credit specialist, has been acquired by French digital technology firm Visiativ Group for an undisclosed sum.

The sale allowed the bank-supported BGF to make what a spokesperson described as a positive exit from the investment it made in Jumpstart in 2014.

BGF invested £3.4m to help develop Jumpstart’s sales and marketing function to support growth across the UK.

Jumpstart, which helps clients claim R&D tax credits and Patent Box tax relief, has opened offices in Birmingham and Manchester since BGF invested in the firm. It employs 38 people in Edinburgh.

Managing director Scott Henderson said joining Visiativ would help broaden Jumpstart’s R&D tax relief provision into France, Canada, USA and Brazil.

BGF said Jumpstart’s current shareholders will exit as part of the transaction. Jim Faulds, the advertising industry veteran who became chairman of Jumpstart following an introduction by BGF, will step down from the board.

Jumpstart was founded in 2008 by Stuart Wyse, Don Galloway and Richard Edwards who developed the firm with serial entrepreneur Brian Williamson.