A FinTech specialist has completed the acquisition of Managed Services business of Hampshire-based VTG Cloud.
Anchor Computer Systems completed a seven-figure deal which enables it to significantly enhance the range of services it is able to provide.
The acquisition includes the assets and contracts related to the Managed Services side of VTG Cloud. VTG Cloud will continue to operate the other aspects of its business.
The move means the company, based in Birmingham and Bangor, can now offer existing and new customers ‘Platform as a Service’, ‘Infrastructure as a Service’, ‘Disaster Recovery as a Service’, and ‘Backup as a Service’.
The company employs almost 60 people across its two offices, and is one of the UK’s leading providers of software solutions for the financial services sector with its loan management platform, Sentinel, now used by over 200 customers.
Its Journeyman product is also widely used by over 100 home credit providers.
“We have worked with VTG Cloud for over 8 years with them providing us with us with managed services for all of our SaaS related business,” said Anchor’s CEO Mike O’Sullivan.
“When the opportunity came up to acquire that side of the business it was a natural fit for us and our future strategy.
“We will be able to offer new services to existing clients around systems and infrastructure – services such as Infrastructure as a Service, Disaster Recovery as a Service and Backup as a Service. The potential of the new operation is huge.
“Anchor’s existing business is immersed in the Fintech space which means our clients are assured that they are partnering with genuine industry specialists with a total understanding of the regulatory environment in which we operate.
“We are looking forward to rolling out our expanded suite of technology and products to existing and new clients.”