Even as the uncertainty of Brexit looms, some companies in the British tech industry are reporting record profits.
BigChange, a cloud-based workforce management software provider, has acquired two companies – Trace Systems and Labyrinth Logistics – after recording unprecedented financial success in 2018. Sales at the company hit a record £11m in 2018, an increase of 65% from 2017, and profits almost tripled over the same time-span.
The firm is now expanding domestic operations, before offering its products to the European and US markets.
JobWatch, the software produced by BigChange, enables companies to manage, schedule and track mobile workforces and transport operations. This was taken on by several new clients in 2018, including Braemar Shipping Services, BID Group, Arco, Recycling Lives, Jackson Fire & Security, PHMG and Snorkel UK.
Leamington-based Logistics firm Labyrinth will now lend its logistic expertise to BigChange, and Coventry-based automotive system designers Trace, will add its fleet, garage and workshop management solutions to the platform.
“These businesses are the first that BigChange has acquired since it was launched in 2013 and provide us with more fantastic people, world-class technology, amazing new customers and multi-million revenue boost.” said CEO Martin Port on the acquisition.
The rise of the mobile workforce, which is expected to account for almost 75 percent of the total workforce by 2020, has made Mobile Workforce Management (MWM) software critical – replacing slow paper-based systems with a streamlined digital alternative that can help maintain efficiency when managing employees working away from the company premises.
The gradual integration of new technologies like Internet of Things, semi-automated work vehicles, and AI scheduling into M2M software is expected to create further growth in the sector, which remains a particularly strong performer within enterprise software.
About Acuity Advisors LLP
We know technology – that’s why we’re the industry’s trusted M&A advisor. Our partners are senior players in tech and M&A: skilled at getting to the heart of a technology business, understanding what will attract buyers, and building long-lasting relationships. We have an unrivalled understanding of the industry’s complexities and personalities – our track record and client feedback are compelling evidence of that. We’re an international firm – most of our deals are cross-border, from offices in London, Munich, Shanghai and Silicon Valley – but we’re grounded in our approach. We move quickly when it’s needed, and we’re around for the long haul when patience is a virtue. We’ve maintained a very high success rate across hundreds of deals while keeping our focus on doing what’s right for our clients. From first meeting to successful exit, we earn the trust that clients and investors put in us. Read more…
© 2019 Acuity Advisors LLP
A conversation is never wasted. We’re confident that we can give you all the help you need, but we’ll tell you if we think there’s a better option for you.Get in Touch