The Technology Group is forging ahead with its mission to hit £15 million turnover by 2022 with the acquisition of a York telecoms company.
The Leeds-based firm has acquired Local Telecom Service (LTS), an established, family-run business to business telecoms provider in York, for an undisclosed sum.
The acquisition will add £1.5million to The Technology Group turnover and the eight-strong LTS team will remain at the York office operating under the Local Telecom Service brand.
David Marsden, acquisitions director at The Technology Group, says: “For The Technology Group, this is a superb opportunity to bring more great people into our team, welcome fantastic new customers to the business and add a globally respected product to our portfolio. LTS is a Panasonic Solutions Partner, which will give our customers access to the latest Panasonic technologies alongside the systems we currently offer.”
The Technology Group is a £6.5million turnover telephony, mobile and internet services business, headquartered in Leeds with offices in London and Welwyn Garden City.
The company has 39 staff, 900+ customers, global telephony solutions in 22 countries and counts Sage PLC, Oxford College, Rugby School, the NHS and Yorkshire Wildlife Trust among its clients.
LTS is the group’s second acquisition in 18 months. The first was Hertfordshire-based Exchange Comms in October 2017, and David Marsden says the firm is planning a third later this year.
“Acquisitions form one of the key pillars of our growth strategy, which is to reach £15 million turnover by 2022, double staff numbers to 65 and customer numbers to 2,000,” he said.
“This latest acquisition, coupled with continued organic growth, means we are well on course to achieve our target.”