Managed Services Acquisition: TSG Buys Concentrix for SMB Expansion
Technology Services Group Ltd. continues to gobble-up companies at a rapid pace. This time the IT service provider has acquired Concentrix as part of an SMB cloud computing push in the UK. This is the 24th company that TSG has acquired since 2003. Here’s a closer look at the latest deal.
The Concentrix acquisition will help TSG expand its network services in the UK, particularly when it comes to customer relationship management (CRM) and software installation. In a prepared satement, TSG Chief Executive David Stonehouse said:
“The Concentrix acquisition is a significant development in TSG’s growth strategy and another strategic step in our quest to become the UK’s number one SME IT services provider. It increases our customer base and will considerably add to our existing Sage and Microsoft Dynamics skills and capabilities. “
Concentrix was founded in 1999, focusing on Microsoft and Sage applications. In fact, Concentrix was named the Sage CRM Business Partner of the Year in 2009. According to TSG, the Concentrix acquisition will also deepen its cloud computing and Sharepoint expertise.
TSG will bring aboard all 61 Concentrix employees, which will raise TSG’s employee total to over 500 people. And don’t think TSG is done with its acquisition streak. The company plans to acquire more IT companies that serve SMB clientele in the U.K.