57 Content+Cloud

Doug Woodburn
clock • 1 min read

Key points

Revenue: £71.8m (+39%)

Net profit: -19.6%  Staff: 653

"We wanted a name that does what it says on the box", the CEO of this acquisitive London-based MSP, Peter Sweetbaum, told CRN in September as it rebranded from IT Lab. The Microsoft cloud specialist saw revenue bulge 39 per cent to £71.8m in its year to 31 March 2020. During the year, it acquired IT support outfit Mirus and Azure specialist Sol-Tec for a combined £24.8m. Although £26m of acquisition costs and non-cash items pushed it to a £19.6m net loss, pro-former EBITDA topped £10m.

Key points

Revenue: £71.8m (+39%)

Net profit: -19.6%  Staff: 653

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