Growing cloud service provider SysGroup shows sales growth

SysGroup has reported a big rise in half-year sales and another rise in recurring revenues for the six months ended 30 September 2019. The AIM-listed firm said revenue increased 60% to £9.3m when compared to the first half of last year. Earlier this year, SysGroup announced the acquisition of Hub Network Services (HNS) for £1.45m in cash. The deal follows the acquisition of Certus IT in early February for an initial consideration of £8m.

HNS, established in 1997, is a UK managed connectivity and colocation solutions provider. Its customers include the Welsh Audit Office and the Samaritans charity. HNS’ network infrastructure and supply agreements complemented and expanded SysGroup’s existing managed IT and cloud hosting offerings to customers. The Certus IT capture saw the company extend its reach into new vertical markets, as well as its UK geographical footprint across South Wales and the M4 corridor and the addition of a core presence within a 250,000 square feet data centre in Newport, South Wales.

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