Lateral Group – the data, software and print business – has been bought by US-owned printing firm Innovative Output Solutions for an undisclosed sum.
Formed in 2008, following the acquisition of existing businesses, Lateral comprises four companies, Data Lateral, Shift Click, Dialogue Solutions and Howitt.
IOS is claimed to be one of the largest direct communications manufacturers within its sector in the UK. It is also one of Europe’s largest variable colour digital printers, specialising in one-to-one communication solutions for various sectors including financial services, retail, utilities, travel, charities and local government. It is owned by DST Systems, Inc.
The company claims the addition of Lateral Group is a complementary fit with existing IOS operations, both in terms of services offered and business outlook.
IOS chief executive Mark Felstead said: “This is an excellent strategic development for us. Lateral Group has a strong presence in the industry and we are pleased to be able to provide further solutions such as data insight and online marketing to our client base through this acquisition.
“At a time when there is much structural change taking place in the industry, it is important for IOS to lead the market. This acquisition helps us to achieve that. We are now in an even stronger position to support larger contracts across the entire spectrum of output solutions in the UK.”
Lateral Group principal founder Nick Dixon (pictured) said: “We have found a great home for the business, and I am absolutely confident that it will go from strength to strength. We look forward to taking advantage of new technologies and resources through this transaction and achieving further scale as a marketing services provider.”
