Teneo Pursues Growth Strategy With Acquisition Of iSimile To Bolster Its Enterprise Management Capabilities

Teneo, a leading infrastructure optimisation specialist, has announced the acquisition of Swindon-based network and security management solutions provider iSimile to enhance Teneo’s enterprise management offering, marking a new chapter in Teneo’s growth story.

Teneo has made its first acquisition in its nine year history by acquiring network and security management solutions provider, iSimile. iSimile has an annual turnover of around £1m with headquarters in Swindon. The privately-held business integrates solutions from leading vendors such as CA, netForensics and BlueCat Networks for a line-up of blue-chip clients.

The acquisition of iSimile provides Teneo with enhanced sales and technical ability in infrastructure and security management, offering excellent opportunities for cross-sales from each company’s respective customer bases. Teneo will also fully utilise the potential of iSimile’s technical team across all its solution specialisms and capitalise on its expertise in order to drive forward plans to grow professional services offerings.

The acquisition adds 10% to Teneo’s revenues which totalled £9.2 million for the year end 30th June 2009, with 2008/09 turnover growing by 10% year-on-year. Teneo has set a target of 25% growth for its financial year 2009/10, and sees acquisitions such as iSimile as key to maintaining growth.

Leigh Collett managing director of iSimile will help launch new professional services for the group:
“Bringing iSimile within Teneo gives both companies an excellent opportunity for future growth as we capitalise on each company’s expertise. We know that this will benefit our existing iSimile customers as it enhances the support, resources and product breadth that they demand. We look forward to quickly integrating our business within Teneo to realise our combined synergies and push for growth.”

Piers Carey, chief executive officer, Teneo, commented:
“We welcome iSimile as they join Teneo; they have substantial expertise in enterprise management, a dedicated team of professionals and many blue-chip customers. We believe that iSimile will benefit significantly from being part of Teneo as we both look to expand our solutions offerings and deliver our growth strategy.”

“Teneo’s growth strategy and track record of success has left us in a strong position and we are able to pursue acquisitions to bolster our organic growth. We are delighted that iSimile is our first acquisition.”