B2B dealer expects IT revenues to hit £3 million in next 12 months with latest acquisitions
B2B dealer Excalibur Communications has acquired Warminster-based IT solution provider Bridge Solutions for an undisclosed fee.
The deal, which was completed last month, is the company’s second in as many months, having acquired IT provider Emnico in November. The two deals are said to have cost more than £500,000 in total.
Vodafone platinum partner Excalibur, which has a mobile base of around 30,000 connections, says the two deals will see annual revenues increase from around £1 million to £3 million in the next year.
Bridge Solutions, a Microsoft Gold Certified and Intel accredited partner, was described by Excalibur as a “perfect fit” as it continues to drive its IT sales inside the M4 corridor.
Bridge Solutions 300 plus customer base has been informed of the deal, and its four existing staff have now relocated to Excalibur’s recently extended Swindon head office. Bridge Solutions will be rebranded at some stage during 2012.
Excalibur has also confirmed it will launch a new business called ‘Professional Services’ later this year offering consultancy, project management and support through a range of software and hardware solutions.
James Phipps (pictured) has become Excalibur’s new CEO, having held the position as MD since February 2010. The previous CEO, Gary Wetherall, has taken the newly created position of chairman, while strategic growth advisor Alex Moreton has become the new MD.
Phipps said: “It’s been a very busy year reorganising the business. The IT side has grown significantly and we now have more than 20 staff compared to the five we had last year.
“Our IT business is now worth between £2 million and £3 million annually. Most of our competitors have a turnover of around £3 million in total.
“Bridge Solutions is a perfect fit, with the same number of customers and in the right geography.
“They have a much broader range of hardware than we did and have some good support contracts. “