Tag: Pinnacle

Focus group buys Pinnacle

Focus Group has snapped up the Bristol-based cloudy outfit Pinnacle in a deal that will boost its business across the Southwest and beyond.

The deal comes as both companies are booming and claim to share the same goals and values. This is the third company that Focus Group has bought and  Pinnacle has a cracking success story, having raked in loads of cash over the years, which fits well with Focus Group’s growth plan.

Focus Group supremo Brian Lodge said: “We are over the moon to have Pinnacle on board. This deal shows our ambition to grow and not only makes us stronger in the Southwest but also joins two companies that see eye to eye on growth and customer happiness. Pinnacle’s products go well with Focus Group’s offerings in telecoms, IT, and mobile solutions, while its know-how in UC technology gives us more chances to work together and create new things.”

Pinnacle Computing buys £1.68 million worth of Sage

Pinnacle Computing has picked up K3’s Sage business for £1.68 million.

The deal should complete next month. In the fiscal year to 30 November 2020, the Sage business generated revenue of £5.2 million and a pre-tax loss of £1 million. Current recurring revenue is £3.1 million, with gross profit of £1.5 million. Net liabilities stood at approximately £1 million on 30 May 2021.

In April 2020, K3 placed its loss-making UK Dynamics business into administration, leaving the group focused on profitable core units. The channel outfit flogged Starcom Technologies in February 2021, for £14.7 million to Node4.

K3 expects the sale to strengthen its balance sheet and generate pre-tax profit of approximately £1.6 million, which will be accounted for as an exceptional contribution to trading results in the current financial year, ending 30 November 2021.