Business
Acquisition of Peak Indicators and Swirrl
Acquisition of Peak Indicators and Swirrl.
About this update from Tpximpact Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6779F\n TPXimpact Holdings PLC\n 23 March 2022\n \n \n \n \n This announcement contains inside information\n \n \n 23 March 2022\n \n \n TPXimpact Holdings PLC \n \n \n (\"TPXimpact\", \"TPX\", the \"Group\" or the \"Company\") \n \n \n Acquisition of Peak Indicators Ltd and Swirrl IT Ltd\n \n Trading Update\n \n \n KITS earn out amendment \n \n Two strategic acquisitions significantly improving the Group's data offering\n \n \n TPXimpact Holdings PLC (AIM: TPX), the technology-enabled services company focused on digital transformation, announces \n the conditional acquisition of the entire issued share capital of both Peak Indicators Ltd (\"Peak Indicators\") and Swirrl IT Ltd (\"Swirrl\") (the \"Acquisitions\"). The Acquisitions are strategically important to TPX, significantly expanding the Group's capabilities in artificial intelligence (AI), data science and analytics.\n \n \n \n Together they will form TPXimpact's AI & Data capability, opening a new market opportunity that the Company has so far addressed by working with associates. With 65 full-time staff members, this new capability will be positioned to assist clients across TPX's target sectors in gaining stronger insights to aid their decision making.\n \n Trading Update\n \n \nThe revenue from the Acquisitions, combined with the Group's existing revenue growth at the top end of market expectations,1 puts the Group on track to hit its FY23 £100m run rate revenue target around a year ahead of plan. Full year revenue for FY22 is also anticipated to be in-line with market expectations.\n \n \n Highlights of the Acquisitions\n \n \n \n \n \n \n \n \n \n ● \n \n \n \n \n Adds expertise in key areas of focus for the Group moving forward, with Peak Indicators providing AI, data science, data services and advanced analytics consultancy to the public and commercial sectors and Swirrl specialising in cloud-based data integration and dissemination\n \n \n \n \n \n \n \n \n \n ● \n \n \n \n \n Reduces TPX's reliance on contractors to deliver certain professional services thereby having the potential to improve margins\n \n \n \n \n \n \n \n \n \n ● \n \n \n \n \n Strengthens TPX's presence in the UK Public Sector by incorporating clients such as the Department for Environ...