Gamma Communications plc, the Newbury-headquartered IT and communications business, has said it saw continued growth in the first quarter of the year, with the positive momentum expected to continue as the UK and Europe recovers following the pandemic.
In March, the Group acquired Mission Labs Limited for £40.2 million with up to an additional £6 million contingent deferred consideration payable over the next three years. Gamma said that the acquisition of Mission Labs will enable it to enhance and expand its cloud contact centre (CCaaS) technology. In addition, the acquisition will enable Gamma to accelerate its digital channel strategy. Mission Labs has a UCaaS technology platform called CircleLoop. Integration of the business is proceeding well and early performance is in line with expectations.
In its 2020 Annual Report and Accounts, the company reported revenues of £393.8 million, up 20 per cent on the previous year, with operational profits up 66 per cent to £75.7 million.
Gamma Chair, Richard Last, said: “”2020 has been a good year for Gamma in difficult circumstances; our partners and employees have worked hard to deliver continued growth.”
Gamma, which has more than 1,500 employees across seven countries, says it is positive about the outlook for the Group in 2021 and beyond.
In the company’s 2020 Annual Report, Richard Last, said: “Our product set is well suited to organisations that wish to work remotely as part of their disaster recovery plans or who will choose to allow more flexible working in future. We believe that experiences learned from the COVID-19 pandemic will demonstrate the advantages of UCaaS [Unified Communications as a Service] to businesses of all sizes across all industries and we expect to see continuous growth in UCaaS product sales.”
Since its creation in 2001, Gamma has rapidly become one of the dominant players in the UK communications market and increasingly on mainland Europe. The business operates in the UK, Netherlands, Spain and Germany and looks to further expand its European presence.