YFM-Backed IT Company makes latest acquisition
The company has purchased provider with offices in Guildford and Newcastle.
DSP-Explorer, which has offices in London, Nottingham and Leeds, previously secured funding and investment from YFM in 2018 and 2021. It has grown revenues from an initial £5m to an expected group out-turn of £30m in 2022.
The latest deal brings together DSP’s core Oracle Database technology and Cloud skillsets, with Claremont’s specialism in Oracle E-Business Suite and Private Cloud Hosting services.
Simon Goodenough, chief executive at DSP Group, said: “DSP and Claremont already have several clients in common, so when the opportunity arose for us to work together as a combined business, I was hugely excited. We share similar cultural values, especially those of responsiveness and customer success, and both want our businesses to be great places to work for our employees.”
Roshan Puri, investment director at YFM, added: “This latest acquisition continues DSP Group’s growth momentum by broadening its Oracle portfolio, further expanding its customer base and strengthening opportunities to increase its presence both in the UK and in international markets.
“We are pleased to continue to support the business as it pursues its ambitious plan to scale through organic and acquisitive growth.”
Mark Vivian, chief executive at Claremont, who joins the board of the DSP Group, said: “I am very excited about the fusion of the Claremont and DSP businesses, combining our applications and technology strengths together with a comprehensive multi-cloud services portfolio. The breadth of our combined service offering, along with our shared delivery excellence ethos, will enable us to deliver an even more compelling proposition to customers.
“I’m looking forward to working with Simon and the team. I think that this corporate union presents a really invigorating opportunity for the Claremont team as we join forces with our new DSP colleagues to help to shape and grow the combined business going forwards.”
Browne Jacobson advised DSP on the transaction.
YFM has offices in Leeds, London, Manchester, Birmingham and Reading.