LISBURN IT firm Xperience has said its acquisition of English company Green Duck on Monday marks the start of an aggressive growth strategy that could see four more firms acquired in the next 24 months.
The digital transformation specialist said the move will take its headcount from 88 to 123, raising annual turnover to around £16 million.
Based in Bury St Edmunds, in the east of England, Green Duck specialises in cloud, cyber security and managed it solutions.
It will now trade under the Xperience brand, adding a fourth location to the Lisburn firm’s portfolio, which also includes Peterborough and Glasgow.
Xperience focuses on the SME sector, a considerable growth sector as many smaller companies have accelerated digital transformation plans during the pandemic.
Managing director Iain O’Kane said the Green Duck acquisition enhances its cloud and cyber security offering.
The value of the deal has not been disclosed, but Mr O’Kane said it had been self-funded.
He revealed the Lisburn-based tech firm is currently talking to around seven other companies about potential acquisition.
The managing director said the strategy is not just about expanding Xperience’s geographic footprint and client base, but accessing skilled talent.
“Digital transformation is huge,” said Mr O’Kane. “The shift to hybrid working, the shift to on premises versus cloud hosted technologies, it’s a hot sector and we’re very fortunate to work in it.
“I think our client needs are becoming more complex, therefore we grab skills through an acquisition, where complimentary services and products can be offered to our clients.
“I’m targeting three to four other acquisitions over the next two years, this being the first one.
“This would be a good size for us. It’s a £4m turnover business, so if you took another three or four of those, it would take our turnover to in excess of £30m, before adding organic growth.
“We’re actively pursuing, and a lot of my time now is spent being out there trying to identify and talk to companies looking to divest.”
Green Duck chief executive, Rod Jackson, said: “We are proud to announce that Green Duck will be joining Xperience.
“As part of Xperience, our clients will continue to benefit from the services of Green Duck, while gaining access to a broader range of expertise and solutions. It is a great opportunity to provide our clients with a wider portfolio of solutions from a single supplier with a proven track record."
