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Inoapps on the acquisition trail following £10M investment

Friday, September 13, 2013

Inoapps intends to increase the size and scale of its operations significantly, thanks to a £10m investment of growth capital from Business Growth Fund (BGF). This is BGF''s seventh investment in Scotland bringing its current Scottish investment total to just over £36.9m.

BGF, the independent company established to help the UK''s growing businesses, is investing £10m in growth capital to allow Inoapps to make several acquisitions to increase its customer offering, and to fund international expansion. BGF has taken a minority stake and BGF investment director Mike Sibson has been appointed to the board. Long-time adviser to the company, Bobby Anderson has joined the board at completion, and BGF will also be working with the company to appoint a chairman with industry and entrepreneurial experience to support Inoapps CEO Andy Bird in the next stage of the company''s development.

Inoapps is based in Aberdeen with offices in Edinburgh, Derby and Kuala Lumpur, and a team of around 200 employees and associates. It was founded by Andy Bird in 2006 and is the leading Oracle Reseller and Platinum Partner in Europe, the Middle East and Africa. The business specialises in providing consulting, implementation and hosting and managed services for Oracle applications, technology and hardware. Inoapps is on a high growth trajectory, and has doubled turnover in each of the last two years and turned over around £20m to year-end July 2013.

Inoapps initially focussed on implementing Oracle applications and technology solutions into the oil and gas industry but has since diversified into other sectors including construction, defence, and the public sector. It delivers robust, resilient and powerful Oracle solutions that support and transform businesses, bringing rapid return on investment. It has recently completed several multi-million pound projects, and now supports major international blue chip clients across the full range of Oracle products. Inoapps'' ''50 in 15'' strategy lays out a plan to continue to grow to £50m revenue in 2015, through organic growth and acquisition.



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