Lisburn based Xperience, a Cloud and IT Services, ERP and CRM today announced its acquisition of Riverlite, a leading East of England provider of Cloud, Cyber Security and IT Managed Services.
Following the acquisition Xperience’s headcount will grow to 150 (a rise of 42% growth in 12 months). Annual turnover will increase to approximately £21.5 million and will support over 1,150 clients across the UK & Ireland. The acquisition is strategic, both geographically, and for service and sector expertise.
The purchase of Riverlite follows the acquisition of Bury St Edmunds based Green Duck in October 2021, and adds to Xperience’s existing office in Peterborough, as well as its offices in Lisburn and Glasgow, further demonstrating the company’s commitment to the aggressive growth strategy it set out last year.
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In a world where cyber-attacks are increasing, the addition of Riverlite’s security offerings will help provide clients with even greater protection against external threats. The combined business brings highly skilled resources together in a market where they are scarce, and in-depth market expertise serving the not-for-profit, education, healthcare and private sectors.
Iain O’Kane, CEO, Xperience said: “Growth across the UK and Ireland remains a strategic priority, and Riverlite is a natural fit as we share a similar culture and values. Importantly, it achieves a leading presence in the East of England and strengthens our existing team nationally. It also provides another Cyber Security and data platform, which given the events of last year and continued global threats, is a genuine benefit for our clients. For this and many more reasons we welcome bringing Riverlite into the Xperience family.”
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Paul Oggelsby, CEO, Riverlite, added: “Scale is increasingly important in the IT space, not just because of the pace of technical change, but also due to changing working practices such as hybrid working. Clients are also having to find solutions to global threats such as Cyber Security. Over time, Riverlite will trade under the Xperience brand and as part of Xperience, our clients will continue to benefit from the services of Riverlite, and also have access to a broader range of resources and support locally and across the UK.”
Terms of the transaction are undisclosed. Advisers to the deal were:
Wayne Horwood, Rodney McCaughey, Mark Hood, HNH – Corporate / Financial / Tax Vicky Dummigan Davidson & McDonnell – Legal .
Source: Written from press release.
