UK-based mid market business applications provider Access Group has bagged its seventh purchase within a 12 month period with the £2.7m acquisition of not-for-profit (NFP) CRM provider thankQ. Access is already in the NFP sector so this is a safe acquisition that will enable it to add integrated financial and fundraising CRM capabilities to its finance and HR solutions.
It will also add another 230 customers (including BBC Children in Need and Citizens Advice) to Access’s existing 530-strong NFP customer base and create immediate cross sell opportunities, helping with the fiscal 2013 goal of acquisition and organic growth. The company says it is on track to produce EBITDA of around £8.5m on revenues of £43m in the current fiscal year, with organic growth expected to be in double digits.
Access is pushing cautiously (maybe too cautiously) into SaaS (see Access Group takes to the cloud). This acquisition will enlarge its on-premise solution set but the plan is also to provide connections to the Access aCloud that was launched last week. thankQ is a business enhancer and should also provide a receptive market for aCloud solutions as they emerge.