LISBURN-based Xperience Group, one of the’s longest established providers of IT solutions, has paid a undisclosed fee to acquire Riverlite, a leading east of England provider of cloud, cyber security and IT managed services.
It will see Xperience’s headcount will grow to 150 (that's up 42 per cent in just a year), annual turnover will increase to more than £21 million and the enlarged group will support 1,150 clients across the UK & Ireland.
The purchase of Riverlite follows the acquisition of Bury St Edmunds-based Green Duck last October, and adds to Xperience’s existing office in Peterborough, as well as its offices in Lisburn and Glasgow, further demonstrating its commitment to the aggressive growth strategy it set out last year.
In a world where cyber-attacks are increasing, the addition of Riverlite’s security offerings will help provide clients with even greater protection against external threats.
The combined business brings highly skilled resources together in a market where they are scarce, and in-depth market expertise serving the not-for-profit, education, healthcare and private sectors.
Iain O’Kane,chief executive at Xperience (www.xperience-group.com) said: “Growth across the UK and Ireland remains a strategic priority, and Riverlite is a natural fit as we share a similar culture and values.
“Importantly, it achieves a leading presence in the east of England and strengthens our existing team nationally. It also provides another cyber security and data platform, which given the events of last year and continued global threats, is a genuine benefit for our clients. For this and many more reasons we welcome bringing Riverlite into the Xperience family.”
Paul Oggelsby, chif executive at Riverlite, added: “Scale is increasingly important in the IT space, not just because of the pace of technical change, but also due to changing working practices such as hybrid working. Clients are also having to find solutions to global threats such as cyber security.
“Over time, Riverlite will trade under the Xperience brand, and as part of Xperience, our clients will continue to benefit from the services of Riverlite, and also have access to a broader range of resources and support locally and across the UK.”
Advisers to the deal were Wayne Horwood, Rodney McCaughey and Mark Hood from HNH (corporate/financial/tax) and Vicky?Dummigan?from Davidson & McDonnell?(legal).
