MTI puts in strong performance post acquisition

MTI Technology's performance since its acquisition in January last year by PE investor Endless is reflected in positive results that show 20% growth in professional services and expansion in the security and data centre space.

In its financial results for the 16-month period ending March 2018 the Godalming-based EMC partner reported £94.5m revenues and an underlying EBITDA for the period of £2.2m, representing a year-on-year 12.4% increase.

“Since the Endless acquisition we’ve worked hard to build on our strengths and expand our service offerings," stated MTI CEO Scott Haddow (pictured).

"Combined with strategic investments in management, sales and marketing, this has enabled strong revenue growth in 2018 with security and professional services performing particularly well.

“We’ll continue to invest in the team, build out our services portfolio and look for acquisitions that offer a strategic fit in the coming year."

Endless has invested in MTI's managed service portfolio including an expansion of its cloud-based services which led to a Microsoft Cloud Solution Provider designation.

Other investment areas are sales and marketing and a strengthened technical sales function boosted by the hire of a CTO to lead the pre-sales teams.

“We’ve made incremental but strategic investments over the last year, the costs of which have already been recovered as profits have remained stable,” added Haddow. “Having made these investments MTI is well-placed to see continued strong revenue growth."

In a separate statement MTI Technology announced Pieter Knook as a Non-Executive Director and Chairman of the Board.

His experience includes an 18 year spell at Microsoft where he became one of its top 25 executives.

Knook also built a new software services venture for Vodafone Group, launching and evolving Vodafone 360.

Other previous Vodafone roles include positions on the Strategy Board, Marketing Board, Ventures Board, CEO Council and Group Marketing Leadership Team.

Knook is Chairman of the Bullitt Group, a ruggedised mobile device manufacturer.

Source: commsdealer

Industry: Unified communications news