Data specialist GB Group has acquired address management rival Capscan for £11.2m, as part of the company’s plan to double its market share in the public sector.
Founded in 1969, Capscan is the number two in the address management software market; GB Group is number three.
Over the last six months GB Group has undergone three acquisitions in the last six months. It estimates its acquisitions should increase the revenue of GB Group to around £35m from £24m a year ago.
GB Group chief executive Richard Law (pictured) said: “We have seen considerable increase in the level of interest, particularly for fraud and efficiency, so our pipeline is getting bigger. As the public sector focuses on savings, there’s a gap that needs to be filled with automation.”
Law said the company also had a pipeline of new work through the Government’s ongoing work around identity assurance, the process by which the government intends to verify the identity of citizens looking to access its online services.
The acquisition adds 54 people, technology and a client portfolio of more than 1,800 customers, which includes HMRC, ASOS, Ocado and Virgin Wines, with hardly any client conflict with GB Group.
