DSP, which is backed by YFM Equity Partners, has acquired Explorer UK, an independent Oracle partner in the UK. No financial terms were disclosed.
DSP today announced the acquisition of Explorer UK, creating one of the largest independent Oracle partners in the UK. The combined group broadens DSP’s database and infrastructure offering with a wider range of consultancy and managed services. The deal sees the MD of Explorer join the board of DSP Group, with the CEO of DSP stepping up to Group CEO.
YFM Equity Partners backed the £10m management buyout of DSP in 2018, marking the sixth investment from its Buyout Fund I. Since the MBO, DSP has grown its contract base by 300%, doubling both turnover and profitability.
Simon Goodenough, CEO of DSP (pictured above right), commented:
“This really is a case of one and one makes three, and it’s great news for our team, our customers and our investors that we have been able to bring together two of the UK’s most renowned database management specialists, especially at such a pivotal time for our industry. Our shared marketplace, services and similar culture make this an ideal fit, and together we have the scale and momentum to continue our ambitious growth plan.”
Ian Thomason, MD of Explorer (above left), added:
“By combining two market leading specialists in their respective domains, we will accelerate our individual growth ambitions, resulting in a sum greater than its parts.”
Eamon Nolan, a Partner on the Portfolio Team at YFM Equity Partners, commented:
“The acquisition gives the new group greater scale, more capacity for growth, the ability to compete for larger contracts and puts it in a strong position to take advantage of the huge opportunities available in the UK and globally. Since our investment two years ago, we have already seen impressive growth with profits doubling and its contract base trebling, and we expect to see further expansion, both through organic growth and acquisition.”
Read the full article, Acquisition brings together two database management specialists, by Miran Rahman on The Business Desk.