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Education specialist Academia Technology Group (ATG) has signalled that it intends to expand its horizons next year after delivering decent revenues for fiscal 2022.
The channel player has reported revenues of £114m in 2022 and a 34% year-on-year increase in turnover. During the period, it also added 40 staff to take its total headcount to 180.
Looking ahead, the ambition is to increase private sector business and look to use acquisitions as a way of adding fresh services in fiscal 2023.
The firm will follow a multi-pronged strategy (see box below) to keep growth going, with plans to not only widen its reach through acquisitions, but also via fresh vendor relationships.
Mark McCormack, chief commercial officer at ATG, said the lessons it had learnt in the education market could be applied elsewhere.
“Our growth in the last year has been fuelled by customers who need a trusted partner that ensures they have the best technology and best support in place for their day-to-day operations,” he said. “We know from our sustained growth in the education sector that where we provide the right combination of services, we are seen as the long-term partner of choice for our clients.
“By growing the number of vendors we work with, and diversifying our services to meet the evolving needs of our clients, we will be in a strong position to deliver on our ambitious growth plans in our current sectors of strength and in new ones, such as cyber security services, sustainability, and cloud storage solutions.”
Andrew Harman, owner of ATG, said it was continuing to back the business and had hopes that it would deliver further growth. “Two years on from making our growth investment in ATG, the business is making impressive progress, further securing its position as the IT partner of choice for its clients in education, the NHS and in the private sector,” he said.
The growth strategy
Academia is aiming to follow four approaches to increasing its market reach via a combnination of measures:
- Establishing new strategic vendor partnerships widening the portfolio, but building on existing relationships with Apple, Adobe and VMware.
- To widen the verticals, it aims to expand the footprint into the NHS and the wider public sector.
- To expand the services it can offer with investment in increased capability within managed cyber security and IT assets disposal.
- Geographic expansion, with plans for new regional hubs to support the managed service for schools. It will also expand the geographic coverage of the IT asset recycling business, which is seeing rapid growth.