"After a phone tunnel fire affecting 130,000 businesses including Yell,
ICM's efforts helped us to be up and running quickly with minimal disruption"
YELL
ICM acquires Office Shadow
24 December 2009
Phoenix IT Group plc, ('Phoenix' or the 'Group'), the UK IT services company, announces the acquisition of the UK business and certain assets of Office Shadow Limited, from Office Shadow Limited and Moore Stephens LLP (the Administrators of Office Shadow Limited).
The acquisition is being made by ICM Business Continuity Services Limited (ICM), Phoenix’s specialist Business Continuity division. It adds Business Continuity Planning Software, including Business Impact Analysis, Risk Management and Compliance capabilities, to ICM’s existing IT & Workarea services portfolio. The cash consideration payable amounts to £447,000 for the business and assets with a further £250,000 payable to a third party software developer, EPAM, for the completion of an updated version of the main software suite, due for delivery in Q2 2010.
Office Shadow is a well known and award winning provider of hosted/on-line Business Continuity planning tools, delivered through their hosted Shadow Planner software. The software suite, currently used by over 100 blue chip and public sector customers, enables organisations to amalgamate and manage multiple information sources, from multiple departments, across multiple locations into one useable and maintainable Business Continuity Plan. The UK business is based in Reigate, Surrey and employs 24 staff, including an offshore testing and development team based in Lahore, Pakistan.
Nick Robinson, Chief Executive Officer of Phoenix IT Group, commented:
"ICM already has an attractive portfolio of services and excellent national coverage. The addition of the Office Shadow business into the Group brings in additional revenues and opportunities. It also opens up our existing 2,200 Business Continuity customers to a new and increasingly essential service that will be in the higher margin/consulting part of our services. With the addition of Shadow Planner, the ICM business will now be able to engage throughout the Business Continuity support cycle, from early strategy and planning, through to testing and ultimately the provision of standby services and facilities from which customers can continue to operate in the event of them suffering a disaster."