Bury St Edmunds firm bought out in £2.9m deal
TECHNOLOGY firm Netcall has bought Bury St Edmunds-based Serengeti Systems in a £2.9 million deal.
Serengeti, based at the Hillside Business Park, specialises in record and content management as well as customer relationship management solutions.
It has a list of more than 40 clients, including The University of Cambridge and the Forestry Commission.
Customer engagement software firm Netcall, says the acquistition of Serengeti is the start of a number of buyouts expected to strengthen the business.
Henrik Bang, chief executive of Netcall, said: “This earnings-enhancing acquisition is an important part of our growth strategy.
“Serengeti expands our product portfolio and increases the opportunity to drive further cross-selling across the group’s 700-strong customer base.”
Mr Bang added that the ‘combination’ of Serengeti and Netcall’s portfolio of services would provide ‘a compelling value proposition for our customers.’
Serengeti was established in Kersey in 1998 and moved to the Hillside Business Park two years ago. The company is expected to remain as it is but under the umbrella of the Netcall business.
Last year, Seregeti reported a pre-tax profit of £300,000, while its revenues totalled £1.6 million.
A company statement said: “Serengeti are delighted to announce that we are now part of Netcall PLC.
“The acquisition will provide significant benefits to both new and existing Serengeti clients with increased product range and additional resources.”
The purchase was aided by business advisers Grant Thorton.
Mark Clement, a transaction advisory services director at Grant Thornton, said: “The acquisition strengthens Netcall’s product and service offering and extends its reach to a wider market, which are important features of the company’s growth strategy.
“This deal, along with others we have advised on, supports our view that mergers and acquisition in the technology sector continues to be robust despite the challenging times.”
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