North East software firm Metatech Solutions Ltd has been acquired by West Midlands-based Technology x People (TXP) in an undisclosed deal.
Newcastle-based Metatech provides automated Gen modernisation and migration services in the º£½ÇÊÓƵ and overseas. It has carried out work for public, financial services, insurance, healthcare, aviation, automotive, telco and system integrator sectors in recent years.
The firm specialises IT automation for Gen, the computer aided software engineering tool. Its stable of proprietary automation tooling called MigrationWorks supports technical stages of a Gen legacy modernisation project which could see Gen application portfolios transferred to more modern platforms including Java, Cobol and C#.NET. Metatech also offers wider IT modernisation consultancy services, along with automated Gen model re-architecture and Gen tooling integration solutions.
TXP is backed by private equity investor Aliter Capital, which is building a portfolio in the º£½ÇÊÓƵ support services sector and has other investments including digital learning provider Sponge, healthtech firm Athera and law firm BBS Law. In recent years, Aliter is said to have invested significantly in the IT services sector, and has said it will now work with TXP on growth, including further potential acquisitions.
The Solihull-based business delivers consulting, resourcing and development services and has worked with organisations such as the Queensland Government in Australia, multinational consulting firm Capgemini and shipping insurance organisation The Shipowners' Club. Most recent accounts for Jumar Technology Limited, which is just one business that forms part of TXP, show turnover of £11.3m in the nine months to the end of December, 2023.
John Antunes, CEO of TXP, said: "This acquisition comes at an ideal time for both businesses. We know the team at Metatech very well and so we know how much this deal will broaden TXP’s existing credentials, adding unique automated solutions, scarce technical skillsets, knowledge and experience. Moving forward, this specialist know-how will be a vital element in delivering significant pipeline projects, as well as generating a wealth of new business opportunities."
Metatech’s senior management team is led by Andy Scott, who is remaining with the business to work closely with Mr Antunes.
Mr Scott said, “We have seen rapidly increasing demand for modernising legacy IT systems and we believe there is a very positive outlook for the Gen conversion market. Metatech’s proven track record and unique technology solutions will place the group in a strong position to benefit from this growing demand and the business opportunities it will create. We look forward to working with John and the TXP team in the next phase of the business’s development.â€
