Comms group dials up acquisition as part of ‘buy and build’ strategy
Telecoms and mobile solutions provider Matrix247 has acquired Task Office Systems for an undisclosed sum as part of its ‘buy and build’ strategy.
The deal means Rossendale-based Matrix247 is able to capitalise from a surge in demand for technology and systems to enable new ways of working – triggered by lockdown – by adding Microsoft Office products, IT support, and digital photocopiers with document management to its existing range of services.
Set up by Stephen Pritchard and Geoff Wright in 1991, Matrix247 has established itself as one of the largest owner-managed providers of telephone and communication systems in the UK.
The acquisition takes the Matrix247 team to 40 full-time staff, with the company actively looking to recruit more Microsoft engineers and additional staff into its sales, finance, customer service and marketing teams.
To reflect its expanded range of services, Matrix247 has restructured into three divisions: Telecoms and mobile services; managed IT; and digital print with document management.
The company is on target to achieve £10m turnover by 2024, having already reported a 25% increase in turnover and 40% increase in pre-tax profits for the year ending 2019.
Recent research by directors’ organisation the IoD revealed that 74% of businesses plan to allow their workforce to continue working from home in some capacity in the future, while a December 2020 report by Deloitte indicates that more than 90% of companies are expected to rely on cloud technology by 2022.
Pritchard says such market dynamics, coupled with the movement to paperless offices, endorse the decision to expand now: “The lockdown has changed peoples’ attitudes to technology forever.
“There is no going back. Home-based working means that companies need agile and seamless integration between home and office.
“We have received a flood of calls from potential customers who admit they’d been resistant to change in the past, but now recognise the need to protect their business by embracing evolving technologies. Ironically, this prompted us to examine how we could future-proof our own business. Bolstering our core activities by investing in a Microsoft partner of 30 years standing was the obvious strategic path so we’ve accelerated our growth strategy.”
Although well established in professional services, education and healthcare, where clients range from single office organisations to those with 800 staff across multiple sites, Pritchard believes Matrix247 is now positioned to enter new sectors, target bigger companies and compete with larger players in the market.
Teresa Bell, who founded Bolton-based Task Office Systems with David Butler in 1990, will remain actively involved. She said: “We have collaborated with Stephen and his team on many occasions over the years. I know we share the same values and commitment to service delivery.
“Becoming part of Matrix247 will provide excellent opportunities for our team to benefit from training and career opportunities. Everyone at Task is delighted to be joining the Matrix247 family and we’re very excited about what the future holds.”