After nearly 12 years of operations, Crimsonwing has decided to go for a listing on the Malta Stock Exchange. For Malta’s largest privately owned provider of IT software and services, the listing comes at a time of rapid growth. With an increased headcount of 160 and two new acquisitions to boot, the future has never looked better.
Crimsonwing’s three main lines of business (Bespoke, E-Business and ERP) have enabled it to successfully work with clients in the UK and The Netherlands. With excellent staff and a solid business model at the heart of the company, Crimsonwing is now taking its business to other areas, away from those markets served so far. In order to achieve this, Crimsonwing has acquired existing software companies in the new target markets and will apply its new model there.
The recent acquisitions of the media and entertainment business vertical of Peracto Solutions Ltd and Promentum Holdings, both Microsoft Gold Certified Dynamics partners based in the UK and The Netherlands respectively, have strengthened their proposition enabling Crimsonwing to expand their client base to Germany, Austria and Switzerland.
With the company’s first-rate knowledge of Microsoft technologies and products coupled with near shore capabilities, Crimsonwing certainly brings a lot to the table. Greater expertise in e-commerce solutions and bespoke system development allows for far broader and efficient solutions to clients of all three companies.
The synergies achieved by such acquisitions are extremely positive and conducive to achieve further growth for the company. David Walsh, Crimsonwing CEO, commented about the acquisitions saying, “Together we can deliver greater capability and reach.”
Development continues to rest with the hub – the Malta solutions centre, where almost 140 staff continue to support clients like Fraser Eagle, Lloyd’s Register UK, Kingfield Heath, Morrisons and many others.
Investing heavily in its Malta Solutions Centre has begun to pay off. Quality assured business/project processes bring about continual improvement using the latest in software and hardware technologies. Vendor technology from Microsoft, Oracle and Intershop is utilised to develop cost-effective and relevant solutions for the company’s clients and repeat business is not uncommon.
Key to Crimsonwing’s success is its staff – a young-at-heart, dynamic and professional workforce has provided a service major players in the business world. Highly qualified they take to each project a wealth of experience. In recognition of their loyalty most have been issued with share options, which will allow them to participate more actively in the company’s diversification and expansion.
Although the acquisitions of Peracto Solutions Ltd and Promentum Holdings were financed from the company’s retained profits, it is
expected that the listing
will introduce a broader source of finance, enabling Crimsonwing and its investors to be in a position to take advantage of opportunities that will almost certainly arise such as other relevant, possibly larger, acquisitions aimed at bringing about financially beneficial growth.
For further information please visit www.crimsonwing.com