Attenda aims to utilise M&A to drive £50m run rate business

Builds on a successful acquisition of IFL and record organic growth in 2007

(PresseBox) ( London, )
Attenda Limited, the Always On Managed Services company, today announced the appointment of Dominic Phillips as Director of Corporate Development to identify and execute on strategic M&A opportunities.

As Mark Fowle of Attenda, CEO reports, "We have sustained an organic CAGR of close to 20% per annum over the last three years, with contract backlog rising above £37m and typical contract lengths extending to 5 years. Organic growth in 2008 is projected to remain strong and building on the successful acquisition of IFL in 2007, this growth will be supplemented by further M&A activity."

Phillips comes to Attenda with a strong background in international corporate finance. Having started his career in asset management he moved to private equity roles in the US and most recently corporate structuring in the European IT Services industry.

The outsourcing market is continuing to expand with selective outsourcing becoming a preferred approach for mid-market enterprise clients and ISVs looking for specialist skills and deep expertise around their business critical applications. Market feedback confirms that the Attenda Always On messaging is gaining traction and becoming a strong market differentiator.

2007 contract wins included AEGON, Davis Langdon LLP, English Partnerships, FTC Kaplan, GE Equipment, MPNA, RCI Financial Services, Smythson of Bond Street and Tesco.

The opportunity for Attenda is to augment its current managed services offerings with complementary services in areas such as service desk, application management, security & LAN management. Attenda is seeking organisations with similar characteristics. strong annuity revenue, great client satisfaction and a focus on mid-market.

Andrin Bachmann, Venture Partner at MC Ventures, Attenda's lead investor, says, "We are very confident in Attenda's Executive Team, the performance of the business and the market as a whole and will continue to re-invest in Attenda's future as we look to accelerate beyond organic growth."

Mark Fowle, CEO concludes, "We are very satisfied with our progress in 2007 and move into 2008 excited by the bigger opportunity that the market presents, with the reassurance that we have the financial backing required to effect an accelerated growth plan through M&A."
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