Integrator Morse has completed its transformation into a ‘unified services company’ and has revamped its corporate branding to become an ‘international consulting business’.
Last year, the firm split into two operating divisions: Morse Consulting, which incorporates Diagonal and other acquisitions; and Monitise Group, its security mobile banking applications business (CRN, 4 September). The firm has ditched its traditional red logo for a blue one to reflect its new ‘inspiring business’ tagline.
In the same week, the firm posted its interim results for the six months ended 31 December 2006. It revealed a decline in turnover to £132.2m, compared with £187.4m in 2005, but a leap in profit after tax to £2.7m, compared with £1.7m the previous year (CRN Online, 26 February).
Speaking to CRN, Peter Critchley, strategy director at Morse, said: “There has been a lot of work going on over the past 12 months in terms of restructuring and reorganising the company. Now we are sending out a clear message to our clients with the new branding.”
Alastair Edwards, senior analyst at Canalys, said the rebranding was a bold move on Morse’s part.
“This is a radical step for Morse, but it is an example of a channel firm embracing a model that a number of traditional players in this space will eventually follow. The obvious danger with a move like this is that Morse throws away its core business and starts to lose its core customer base. However, a lot of players in the industry will be watching Morse with interest.”
Critchley declined to elaborate further on revelations in its results that the company is considering a ‘possible next-stage separation’ of the Morse and Monitise businesses. This has fuelled rumours of a spin-off sale in the industry.
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