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Accumuli Buys Big Data Company Eqalis For GBP1.9 Million

Mon, 2nd Dec 2013 09:58

LONDON (Alliance News) - IT security company Accumuli PLC Monday said it has bought Big Data analytics company Eqalis Ltd for GBP1.9 million.

It will pay GBP0.7 million in cash on completion and GBP1.2 million over the next three years as long as the vendors stay with the business for that period of time.

In a statement, Accumuli said the acquisition would give it significant expertise in Splunk, one of the UK's leading providers of Big Data technology.

"Eqalis is a business which has excelled in the areas of Big Data Monitoring and Analytics. It has prospered through its very close relationship with Splunk, through the excellence, knowledge and expertise of its directors, trainers and consultants, and through the great results it has delivered for its customers," Accumuli said in a statement.

Eqalis made GBP1.75 million in revenue in the year to end-March and earnings before interest, tax, depreciation and amortisation of GBP0.3 million. It has 150 customers, and only 10% of those are common to both companies.

Accumuli shares were up 4.8% at 22.4 pence Monday morning.

By Steve McGrath;; @SteveMcGrath1

Copyright 2013 Alliance News Limited. All Rights Reserved.

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