Incremental acquired by Telefonica Tech for £175m
Incremental Group, the data company, has been acquired by Telefónica Tech in a deal worth up to £175m that secures the future of the Glasgow headquartered business.
Employing 350 people, with annual revenues of almost £40m just over five years since its launch, Incremental has ambitions to rapidly scale over the next five years.
The acquisition is also seen as re-enforcing Incremental’s credentials to deliver transformational digital projects.
With performance remaining strong throughout the pandemic, Incremental has experienced an acceleration in demand.
Launched in 2016, it has been a Microsoft Business Applications Inner Circle member for the past three years and is one of only two partners in EMEA on Microsoft’s Global Advisory Board for data analytics.
The strategic acquisition of data specialist, Adatis, in October 2021 combined with its existing business applications capabilities enabled the group to deliver end-to-end digital transformation to customers.
Neil Logan, chief executive, said: “I am immensely proud of what Incremental has achieved since our inception a little over five years ago.
“As we looked ahead to the next stage of our development, it was important that we secured Incremental the right support for the long term. Becoming part of Telefónica Tech propels us into the next phase of our journey and enables us to further scale the business, creating exciting opportunities for our people and our customers.”
Telefónica Tech UK&I has an ambition to be the number one cloud transformation partner for its customers, delivering next generation modern workplace experiences, enterprise security services to protect apps in a data and hybrid cloud world.
Acquiring Incremental brings enterprise applications and advanced data capabilities to its portfolio of services.
Martin Hess, CEO of Telefónica Tech UK&I, said: “This is an incredibly exciting acquisition for Telefónica Tech UK&I, it is a major endorsement of the UK&I market, and Telefónica Tech’s role within it. Acquiring strong apps, data and analytics capabilities is the next stage in our journey to be major players in the Cloud market.”