Netcall aquires software platform MatsSoft to enter the growing low-code market
The deal follows BGF Quoted's £7m investment in Netcall, and will see the tech business increase its cloud presence and gain more customers
Customer engagement service Netcall plc has acquired MatsSoft Ltd, who provides low-code software platform MATS, in a deal that has been supported by a £7m funding injection into Netcall by investment firm BGF Quoted.
As a result of the acquisition, Netcall will be able to extend its offering to clients in the public and private sectors, increase its cloud presence and access the rapidly-growing market for low-code software which enables businesses to build apps more quickly with a minimum of hand coding.
The deal will also prove beneficial for growth capital investor Beringea, which invested over £2m in MatsSoft across 2011 and 2012, and has now exited. Having supported the business for the last six years, Beringea stands to receive “healthy returns” from the acquisition.
Launched in 2008, MatsSoft is the provider of MATS, a cloud-based platform that enables its customers across the globe – which currently include Vodafone, ITV, Nationwide Building Society and the Department of Education – to create apps rapidly without requiring additional coding resources or upfront investments.
With more than 225 staff and over 700 customers, AIM-listed Netcall provides technology solutions which help businesses transform their digital presence and improve the level of engagement they receive from their customers.
The Hemel Hempstead-based company’s integrated platform Liberty is used by clients including Axa, BT, Lloyds Banking Group, NHS Acute Health Trusts and Interflora.
Forrester Research, which named MatsSoft as one of ‘The 14 Providers That Matter Most’ in its Low-code Wave, has predicted that the low-code market will be worth $21bn in five years’ time, with businesses reporting that such platforms have helped them to accelerate development five to 10 times faster.
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Henrik Bang, CEO at Netcall, commented: “We see a great opportunity in offering MATS capabilities to our customers across the public and private sectors, as well as expanding into new markets and growing MatsSoft’s international customer base.
“The acquisition will enhance our ability to deliver a unique and powerful set of capabilities and applications that will help our customers accelerate the transformation of their customer engagement.”
Martin Scovell, CEO at MatsSoft, added: “As recognised low-code pioneers, MatsSoft has focused on developing a platform which helps people throughout an organisation make improvements and innovate faster.
“We have always recognised the strategic importance of customer engagement within transformation initiatives and the exciting combination of MatsSoft and Netcall will strengthen our combined proposition”.