Business
Gamma Acquires BrightCloud Group Ltd
Gamma Acquires BrightCloud Group Ltd.
About this update from Gamma Communications Plc
[{"type":"text","content":"\n\n25 July 2024\nRNS Reach\nGamma Communications plc\n(\"Gamma\")\nGamma acquires BrightCloud Group Ltd\n \nGamma Communications plc (\"Gamma\"), a leading provider of technology-based communication services across Europe, announces the expansion of its contact centre and customer experience (\"CX\") expertise and capabilities with the acquisition of BrightCloud Group Ltd (\"BrightCloud\"), a privately owned company.\nBackground to BrightCloud\nBrightCloud is Cisco's leading European Enterprise partner for CCaaS, and is renowned for its expertise in CX transformation. The acquisition is a further accelerator in Gamma's key objective to become a leading managed service provider for enterprises across Europe looking to transform their communications estates. The acquisition also further deepens Gamma's strategic partnership with Cisco.\nGamma already provides CCaaS solutions, support and services to businesses and the acquisition aims to expand its expertise and capitalise on the CX transformation growth opportunity, specifically across the European Enterprise and Public Sectors markets. \nGamma has been working with large enterprises and public sector organisations for over 15 years, offering a range of UCaaS and CCaaS solutions and managed networking. BrightCloud manages a large estate of Cisco Contact Centre installations and Webex CCaaS solutions, bringing with it considerable experience in implementations, support and expert services, along with an impressive client list.\nStrategic rationale\nThe acquisition of BrightCloud is a key part of one of our strategic pillars which is \"to become a trusted partner to Enterprises across Europe, transforming their communications estates\". The acquisition increases the capability and scale of our Enterprise business. We continue to look for opportunities which would enable us to offer additional solutions for our Enterprise customers. As well as acquisitions of this size, there may be further opportunities where a larger acquisition could efficiently bring us several new capabilities at once.\nGamma acquired the entire issued share capital of BrightCloud for an initial cash payment of £9.0m (excluding amounts paid for cash acquired). There is also an additional payment of up to £4.0m in relation to an earnout agreement which is dependent on revenue targets over the period b...