The deal will see the cloud comms player pay £4.5 million in cash and shares, with a “deferred contingent consideration” of up to £3 million, if Exactive achieves EBITDA of £1.5 million in 2021.
Dunfermline-based Exactive was established in 2015 and had a turnover of £3.8 million for the year ending 31 December 2019. It has support facilities in Poland. CEO Scott Millar, CCO Robert Hutchison – who together co-founded the firm – and CTO Richard McPhee will remain with the merged business.
Exactive is one of the few Microsoft Teams Voice partners operating in the UK and the acquisition is based on an existing relationship between the companies, Gamma said, adding that the Scottish firm’s expertise will enable Gamma to help businesses migrate quickly to Teams.
The purchase is “another key stage” in Gamma’s cunning plan to become Europe’s top unified comms-as-a-service (UCaaS) provider in Europe, following its €27 million purchase of Dutch UC specialist Dean One in 2018 and Fareham-based Telsis in 2019.
Gamma CEO Andrew Taylor said: “UCaaS is an ever-evolving and rapidly growing market that we plan to be at the heart of, across all customer environment Exactive helps us address a part of the market that is already embedded in a Microsoft ecosystem and this will be an essential part of our UCaaS strategy in the years ahead. We have known the Exactive team for many years and see the business as a very good fit. We are really looking forward to working alongside the Exactive team as we continue to grow Gamma, using our experience and resources, to capitalise on the opportunities ahead.”
Exactive’s Scott Millar added: “Gamma is the right home for Exactive. As a Microsoft Teams specialist, we are excited about becoming a member of the Gamma family and see this is a key milestone in the continued disruption and convergence in our marketplace as Microsoft continues to become a significant player in the voice and collaboration market.”