Merger pays off for Fabric Technologies

Bullish VAR feeling confident and hints at possible further acquisitions

Only way is Up: Fabric is feeling confident for the future

Financial services VAR Fabric Technologies has seen a spike in sales since its formation from the merger of two resellers, and is not ruling out further acquisitions.

VARs Psychosis and Open Business Systems (OBS) rebranded as Fabric Technologies after they merged in 2007 in a bid to grab a slice of the upper-SME market.

The duo claim the union has been a success, last week announcing a 40 per cent rise in turnover from £5.2m in 2007 to £7.3m in 2008.

Misha Gopaul, chief executive of Fabric Technologies, said: “We have been working on a wide range of projects, including Microsoft Dynamics, CRM and Microsoft SharePoint deployment and customisation. We have been internally expanding our teams, in particular business applications because this is a growing market area.”

He added: “Plans for an acquisition have been placed on the table, so we will consider opportunities as they present themselves this year.”

Bob Tarzey, service director at market watcher Quocirca, said: “It is refreshing to hear a business feeling so positive about the market and having to recruit staff due to demand.

“SMEs are trying to manage their businesses at the moment so SharePoint is a good place to be for a reseller,” he added.