Access Technology Group (ATG) has unveiled an aggressive three-year growth plan, by creating a Mergers and Acquisition (M&A) team.
ATG, the parent company of financial software vendor Access Accounting, plans to double its turnover to £30m by the year 2010.
ATG has already found its first recruit, director Chris Tossell. Tossell has joined ATG from RM where he worked for ten years.
He said: “ATG wants to accelerate the growth of its company and the growth of others via the channel.”
Tossell revealed that the vendor is looking to make two new acquisitions per year.
“It’s not about capitalising our rivals’ downturn, ATG just wants a successful business either through organic growth or strategic acquisitions,” he said.
Tossell added that ATG is looking for companies that specialise in developing outsourced financial software and small businesses that serve niche or vertical markets.
“The business is looking for any vertical company, any size and in any sector,” he said.
“We are not looking to enter the channel with another dominant player. If a business already owns 80 per cent of a particular vertical channel, ATG is not looking to compete with that company.”
ATG aims to buy companies that already have their own software systems and work with them to expand both businesses, he said.
“Now that ATG has some money in the bank it wants to work together with companies to access the supply chain and ensure the growth of businesses and the channel overall,” added Tossell.
Cliff Jenkins, software solutions manager for reseller E-Advantages, previously a partner of Access Accounting, welcomed the move.
“Access Accounting produces some good exhibitions and has the potential to achieve its goal,” he said.
“If it is integrating other software, then E-Advantages would be delighted to enter into an agreement to
work with them.”
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