Software Circle snaps up tech firm Be The Brand Experience in £3.5m deal
Software Circle, a London-listed technology company with a reputation for snapping up smaller firms, has added digital assets manager Be The Brand Experience to its growing list of acquisitions.
The purchase, which cost the Manchester-based company £3.5m, is the latest in a string of tech buyouts for the firm, which in February completed a £2m cash deal for ARC, a higher education software provider.
Bosses said acquiring Be The Brand Experience would help to expand its professional services arm.
Software Circle CEO Gavin Cockerill said: “The acquisition of Be The Brand is the second in our Professional Services vertical, focussed within the finance sector.
“It meets our acquisition criteria very well and we’re delighted to welcome the team to the group. We’re very much looking forward to working with them and driving the business forward.”
Be The Brand’s managing director Adam Hainsworth added: “Having developed and grown the business over 20 years alongside Guy and Jes, it was crucial to find the right owners once I had decided to step back.
“We spoke with Software Circle over an extended period, getting to know their culture and modus operandi.
“We’re confident we’ve found the right home for Guy, Jes and the rest of the team to thrive in and continue to develop our best in class solution for our clients.”
Software Circle has seen rapid growth over the past few years, posting a revenue increase of 57 per cent for the year ending July 2023.
The latest three year period has also seen a 20 per cent overall rise in revenue, aided extensively by its short-term performance. Pre-tax profits also increased to £1.7m from £400,000.