IT firm completes multi-million pound acquisition dealAug 20, 2021
Pictured: (l-r) Paralogic sales director Adam Plant and service director Ian Camp with Silverbug’s MD Dan Bland.
AN IT solutions company in Milton Keynes has continued its expansion plans with its second acquisition of the year.
A total 52 new jobs are coming to Milton Keynes after business-to-business managed IT solutions and support company Silverbug completed the purchase of Paralogic in a multi-million pound deal.
Bosses at the newly expanded company say it will mean improved and enhanced services to customers of both companies.
Both have acknowledged expertise in providing B2B technology solutions for clients ranging from the smallest of SMEs to prestige businesses. Silverbug’s customers include Wolverhampton Wanderers FC, Harlequins Rugby club, the charity Prostate Cancer UK and luxury hotel chain Virgin Limited Edition.
The newly merged company will be headquartered at Silverbug’s offices in Linford Wood, Milton Keynes. It will also work out of offices in London, Wakefield, Wolverhampton, New York and Houston in the USA and Kuala Lumpur in Malaysia.
Silverbug managing director Dan Bland said: “This will be great news for our customers as pooling the skills, services and resources of the two companies will give them access to 24 hour a day, 365 days a year engineering support. Paralogic brings some great people into the business.”
The deal means the new combined company is offering a Network Operation Centre, Security Operation Centre and expertise in cyber security, Microsoft Azure, and SharePoint development services.
Paralogic, based in Aylesbury, is the fourth business acquired by Silverbug in nine years, having merged with Admiral IT in 2012, iQuda in 2019, and Cortex Insight earlier this year. Established in 2002, Paralogic has a particular focus on charity and finance organisations.
Company founder Adam Plant, who joins the merged business, said: These are exciting times for everyone involved with the business, especially with the opportunities this merger will provide for both clients and staff. Being part of a bigger group will enable us to expand the range of services we offer, particularly in security – an area in which Silverbug excels.”
Mr Bland believes Milton Keynes is the perfect place for growing tech companies like Silverbug. It is ideally placed in the middle of the Oxford-Cambridge Arc where government plans to drive investment in the next few years and is predicted by the Centre for Economics and Business Research to have the strongest growth in the country in the coming months.
“There are more new businesses springing up here than anywhere else in the UK and they will all need the kinds of tech functions we are ideally placed to provide,” said Mr Bland. “It is a hive of innovation and a terrific location from a business perspective.
“There is a very young, vibrant feel to the place from a tech perspective and you can see from the level of companies being drawn here in recent years that we are not the only people to think so.”