London-based MSP Exponential-e is making good its strategy to transform into a global IT provider after hitting £77m turnover in its latest financial year.
The firm claimed that an increasing demand for cloud services propelled its 27 per cent revenue growth, with pre-tax profits rocketing 47 per cent to £6.7m. It revealed that it saw a 35 per cent increase in new cloud services customers coming to its doors.
Lee Wade (pictured), chief executive of Exponential-e, said: “Over the last year, we have enjoyed particular success in targeting the C-level community. The security offered with our private cloud network has been adopted by many clients in sectors such as legal, finance and media, that have some of the most stringent privacy, compliance and security requirements."
“We now count brands including Lewis Silkin, Middlesex University, HH Global and UK Power Networks as customers and have increased our client portfolio by 15 per cent.”
The firm revealed it would continue working to transition into a global IT brand throughout 2016, mainly by concentrating on its core network and platform stack to offer new services. Another focus will be automation – SDN and NFV – to allow it to scale and deliver services quicker.
“As we focus on building our capabilities as a global company, our new brand reflects the continued growth, innovation and industry leadership that will drive our success,” added Wade. “Using our foundations as a networking company, our aim will be to help IT departments become a service enabler for the business. Moving forward, we will be looking for opportunities to build our capabilities in data-centric services, machine learning and proof-of-concepts for artificial intelligence.”
The firm is looking to take on another 60 staff to further fuel its growth strategy.
Last year staff numbers increased by 20 per cent, with its northern-based office growing by 50 per cent.
Wade said: “In the last year, we have gone from strength to strength. We have recently announced the development of render-as-a-service, which has formalised a commercial partnership with Microsoft and launched an optical virtual private network (VPN) that will be available across nine of our key datacentres.
“As we move into 2016 we will focus on launching SDN services that will form a key part of our global strategy. However, at the heart of our future success is our smart people and customers who play an integral role in supporting Exponential-e in its transition to becoming a global IT player.”
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