Gamma remains on the lookout for further acquisition targets in Europe as part of its growth strategy, it said in a trading update.
The publicly traded company acquired Mission Labs earlier this year for a cool £40.2m, with an up to additional £6m payable over the next three years. Integration of Mission Labs into the wider group has gone well and its early performance has been “slightly ahead” of expectations, the update stated.
“We continue to actively appraise acquisition targets in Europe to gain scale and to strengthen capabilities,” the company added.
Despite lockdowns in its key territories of the UK, Netherlands, Spain, and Germany, Gamma has continued to perform well in the six months ending 30 June 2021, and growth has been in line with market expectations for the full year. The firm is confident that full-year revenue will be at the higher end of the market’s estimated range of £442.4m to £460m.
The UK, in particular, has seen “robust” trading for the period. Its channel business has reported positive net additions across all its UCaaS products, while its indirect business has performed slightly ahead of expectations. It has signed new contracts with The Berkeley Group, RSM, and the Royal Berkshire NHS Trust.
Andrew Taylor, Chief Executive, stated:
"Despite the ongoing COVID-19 related difficulties across the UK and Europe, I am encouraged by our performance in the first half of 2021.
“I am pleased with the development of our UCaaS strategy both organically and through the acquisition of Mission Labs, and with the release of an exciting range of new UCaaS products, including Phone Line Plus and Horizon Contact"
“I am delighted to welcome all of our new colleagues from Mission Labs into the Gamma family, and I am pleased to see the continued growth of Circle Loop and Smart Agent (being the new products we gained as part of the acquisition)."
Despite its European markets still at an “early stage” of their developments, the Netherlands, Germany, and Spain have all grown their cloud seat bases and have reported growth in both SIP and mobile.
