IT group swoops for £30m turnover data protection specialist

Birmingham-based IT firm CSI Group has announced the acquisition of Tectrade, a provider of data protection and risk management solutions.

The acquisition will further strengthen CSI’s cloud services offering, enabling it to offer its clients advanced data protection capabilities, and allow the group to expand into the USA.

Tectrade protects, recovers, manages, stores and secures petabytes of data for organisations around the world.

The company is based in Godalming, but also has a USA office in New York.

Tectrade employs 53 people and last year’s turnover was £31.2m

Tectrade will enable CSI to further enhance the growth of its clients and respond to their changing data security and cloud needs.

Simon Payne, CEO of CSI Group, sayid: “Tectrade is a strong and strategic acquisition for us, providing additional depth of expertise in data protection which will deliver significant benefit to our clients. It also offers us the exciting prospect of expanding our services into the USA, which I’m delighted to announce Alex Fagioli, CEO of Tectrade will head up.

“CSI is committed to helping companies move their critical business applications and data to the cloud, and the investment we are making in Tectrade will extend our ability in this arena. The company has a strong cultural fit with us and its portfolio complements ours, which means together we will bring an even stronger offering to the market,” adds Payne.

“I’m excited to be joining the CSI Group and for everyone in Tectrade to be part of a larger organisation with a clear and ambitious growth strategy,” said Alex Fagioli, CEO, Tectrade.

CSI was advised on the deal by EY and Pinsent Masons.