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Wednesday 12 June 2019

The Panoply acquires FutureGov

The PanoplyThe Panoply Holdings is to buy Public Sector service design specialist FutureGov for an initial fee of £11.8m. 

FGThe Panoply, which describes itself as a “digitally-native technology services company” has been busy on the acquisition trail since it listed on AIM back in early December (see here). First off it acquired Deeson a small UK-based digital agency specialising in high-profile content-managed websites and digital products just before Christmas (see here) before going on to acquire D/SRUPTION for its marketing platform in Mid-January. Voice enabled AI GreenShoot Labs was also added in March.

FutureGov looks like an extremely good fit for The Panoply, it has an excellent reputation in UK Public Sector for its service design work, has a great client base (particularly in Local Government where it started) and partner network with relationships with many of the large service providers. FutureGov’s service design work is often related to very strategic projects that feed a wider range of digital transformation services and will provide The Panoply with access to very senior relationships within client organisations.

FutureGov was established in 2008 and last year generated revenues of £6.4m, an EBITDA of £1.52m and profit before tax of £1.45m. Crucially FutureGov's CEO and founder, Dominic Campbell, will also come over taking on a Group-wide role of Managing Director, Public Sector and Health. The Acquisition changes the shape of The Panoply, with circa 45% of Group revenue now originating from the health and public sectors.

FutureGov has developed a very successful consulting business over the last ten years and will be hoping The Panoply’s financial backing and wider service offer will scale it further.

Posted by Marc Hardwick at '08:47' - Tagged: publicsector   acquisition   digitaltransformation  

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