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Managed service player SysGroup has continued on its quest to become a £10m of EBIDTA by the end of financial year 2023 with another acquisition.
The firm has already used acquisition as a way of strengthening the business and picked up Certus IT in February before making its latest move to outlay Hub Network Services for £1.45m in cash.
Hub Networks is a managed connectivity and co-location solutions provider that will complement SysGroup's existing cloud hosting offerings.
Adam Binks, CEO, SysGroup, said that its second acquisition of the year fitted in with its strategy: “The acquisition of HNS further complements our existing managed services, enabling us to offer our customer base an even wider range of enterprise-grade managed connectivity services alongside our existing managed IT services portfolio.”
“As SysGroup continues to grow, we’re excited by the prospects that lie ahead on our journey to become the leading provider of managed IT services to businesses in the UK, and the addition of the HNS team to the group is a big step forward on that journey," he added.
Binks has talked in the past of the success the firm has acquiring and integrating businesses and indicated that this latest example would not provide any disruption.
"Through this time of growth, we’re committed to ensuring that our enlarged customer base continues to receive exceptional levels of service and support as well access to our best-of-breed solutions," he said.
When the firm picked up Certus IT means it gave the company strongholds in the South West, North West, Midlands and central London. HNS will strengthen the position in the South West and Wales with offices in Bristol and Cardiff.
SysGroup has been working with a model where recurring revenues account for 70% of the turnover with the other 30% coming from deals where customers have needed servers, desktops and other kit to support their move to working with a MSP.