Tag: SysGroup

SysGroup swallows Truststream Security Solutions

Posted on April 6, 2022 by - News

SysGroup is acquiring Truststream Security Solutions for more than £4 million.

The buy out will be funded from SysGroup’s existing cash balance and a new revolving credit facility of £8 million provided by Santander.

For those not in the know, Edinburgh-based Truststream is a provider of security transformation services and its offering covers all aspects of cyber security from analysis and threat detection, through protection architecture and implementation, to incident response and ongoing 24/7 support and training.

SysGroup reports revenue dip

Posted on April 20, 2021 by - News

SysGroup is reporting a dip in revenues for its full-year 2020/2021 results.

The company said its revenues are expected to fall by seven percent for the 12 months to 31 March 2021 as the pandemic caused customers to put off decisions on new IT spending.

Profits are meanwhile expected to come in slightly ahead of expectations for the year. Adjusted EBITDA is set to grow by three percent annually, with the MSP benefiting from acquisition synergies and imposing tight control over its costs.

SysGroup loses while sales increase

Posted on November 27, 2018 by - News

Liverpool-based SysGroup saw sales top £5 million, but its losses widened due to two recently acquired companies and the roll out of a new CRM system.

For the six months ending 30 September 2018, the managed services provider saw revenue rise 47.3 percent year on year to £5.8 million.

Adam Binks, who was appointed the group’s CEO earlier this year, said: “During the period we have focused on execution, and I am pleased to report that the group has made steady progress in the first half of the year during my first period as CEO. The increasing proportion of recurring revenue demonstrates the ongoing success of our strategy and position as a consultative-led provider of managed IT services and cloud hosting.