British cloud computing company used by Government rescued from collapse

Mr Thomas, the founder of data centre company Ark, has acquired a majority stake in UKCloud through his investment company Hadston 2. Existing investors, the venture capital firm BGF and US investor Digital Alpha, have also put more money in.

The company did not reveal a price, although it is believed to be around the £30m needed to keep operating and fund its investments.

Mr Hansford said "You want a vibrant British tech industry, we are the people that are spending money in the UK, creating jobs, social value. I'm employing and paying taxes and my staff are paying their money here. That's not the case necessarily with one of the big American [companies].”