MSP Core Technology Systems has completed the acquisition of Velocity IT, a company known for its expertise in automation technologies.
The move is strategic, propelling the MSP’s ambitions for growth and innovation. It aligns with its goal to surpass the £15m revenue mark in 2024. It enhances Core’s offerings by adding advanced AI and automation capabilities to its portfolio.
The financial details of the transaction have not been made public.
Velocity IT, which employs 16 people in the UK and is headquartered in Milton Keynes, is recognised for its specialisation in business process automation (BPA), robotic process automation (RPA), and artificial intelligence.
Core CEO Conor Callanan said that Velocity IT was a perfect fit for Core in terms of technology and expertise, culture and values.
“This acquisition is a growth story. It’s about bringing together two like-minded companies with a vision for innovation and excellence. We are excited to welcome Arno and his team to the Core family and to be able to expand our offering and value provided to our customers.”
As part of its long-term growth plan, Core intends to merge the operations of both companies and is considering additional acquisitions for 2025 and beyond.
It’s suggested that Core bolsters its capabilities in anticipation of a possible future sale. The company is focusing on organic growth and strategic acquisitions to this end.
This acquisition comes from Core’s recent purchase of CompanyNet, a Microsoft Gold partner based in Scotland.
Under the leadership of CEO Arno van Rooyen, Velocity IT serves various sectors, including healthcare, manufacturing, insurance, and government. The company’s leadership in automation is expected to enhance Core’s current services, adding considerable value to its portfolio and opening up new avenues for innovation, especially in AI and application development.
The acquisition also strengthens Core’s Dynamics CRM capabilities. It adds expertise in Power BI, AI, Power Apps, and low/no-code technologies, solidifying Core’s market position and broadening its partnership network.
Van Rooyen will continue to play a pivotal role in the company, leading the Velocity IT team.
He said: “Joining forces with Core represents an incredible opportunity for growth and expansion. We are thrilled to join a company that shares our values and passion for technology and innovation.”
Core Technology Systems recently made another notable acquisition before Velocity IT. On August 30, 2022, it acquired CompanyNet, a Scotland-based Microsoft Gold partner. This acquisition was part of Core’s strategy to enhance its technical capabilities and expand its presence in Scotland.
Before this, Core Technology Systems had also acquired Parative on May 20, 2013, as part of its general growth and expansion plans within the IT sector.
