Aberdeen-based technology company Dynamic Edge has acquired an award-winning IT firm as part of plans to expand its business in the London area.
The acquisition of Waytime Technologies, from its directors Liz Turner and Mark Hunte, has boosted the number of the north-east firm’s clients throughout the country to more than 300. The value of the deal has not been disclosed, but is understood to have been a “substantial six-figure sum”.
All eight staff at Waytime, which is based in Leatherhead, Surrey, are being retained, taking Dynamic Edge’s workforce to 33. The company has offices in Inverness and Dundee as well as its Aberdeen headquarters.
Dynamic Edge chief executive Rob Hamilton said: “We sought a business with similar expertise, values and commitment to customer service as Dynamic Edge. Waytime is an ideal fit for us in all respects.
“In addition, it has a number of oil and gas clients in the London and Guildford areas and that was also a factor in moving forward with this deal. We’re looking to take the business to the next level.”
He continued: “Dynamic Edge has grown year-on-year for the past eight years. We initially considered the central belt for our next expansion but opted for the London area, partly due to its strong connection with the oil and gas industry. There is huge scope for a proactive IT business; one that is constantly reviewing operations and providing a number of key, managed solutions. The addition of Waytime gives us access to the south-east of England market but it also has clients in other parts of the UK. We’re delighted with the deal.” Dynamic Edge was established in 2009 in Aberdeen and expanded its operations into Inverness with the acquisition of Alchemy Plus Business Solutions.
The Bank of Scotland supported that acquisition and has backed the Waytime deal. The business also extended its interests into Dundee in 2015.
Mr Hamilton moved to Surrey in August, with plans to grow the business in the region and will be based at Waytime’s Leatherhead office.
The company has not ruled out further acquisitions, possibly in the north-west of England, but says it will be concentrating on its latest addition in the meantime.
Waytime directors will remain with the business as consultants and the company’s name will also be retained.
Dynamic Edge’s clients include companies in the professional services, property and manufacturing sectors as well as charities and social enterprises.