Acquisition of Oakland Group Services Ltd
SOFTCAT plc
('Softcat', the 'Group')
Acquisition of Oakland Group Services Ltd
Acquisition bolsters Softcat's growing data, automation and AI capabilities
Softcat plc (LSE: SCT.L), a leading UK provider of IT infrastructure products and services, today announces the acquisition of Oakland Group Services Ltd ('Oakland'), a specialist provider of data and AI consultancy services. The acquisition of Oakland further strengthens Softcat's ability to support customers at every stage of their data journey.
Oakland's specialist consultancy services range from data strategy and governance, through to architecture and engineering, analytics and AI. This is an exciting growth segment of Softcat's market, with increasing demand from large and mid-market customers across both the corporate and public sectors for expert advice and execution on their data priorities. The addition of Oakland's deep expertise in data to Softcat's broader portfolio will bring significant benefits to the combined entity's customer base, augmenting the Group's ability to support customers across all key areas of their rapidly evolving technology infrastructure.
Oakland is headquartered in Leeds, UK, employing 70 people, and in the twelve months to 31 December 2024 generated revenue of c.£10m. Oakland is an existing partner to Softcat, with strong cultural affinity and aligned leadership values, and our combined strengths have resonated well with customers to date. As part of the transaction, Oakland's leadership team will join Softcat to run the business initially as a standalone operating unit, aligning with Softcat's sales team to maximise the shared growth opportunity.
A payment of £8m has been funded by Softcat's existing cash, with further contingent payments over the next 3-years depending on performance. The transaction does not affect Softcat's previously communicated financial guidance.
Graham Charlton, Softcat CEO, commented:
"Data is one of the biggest opportunities ahead of us as innovation in technology continues to shift rapidly towards a more automated and AI-driven world. Our customers need expert support to navigate this transition, so by combining Softcat's market presence and broad portfolio with Oakland's specialist capabilities, we can guide customers through every stage of this journey. The acquisition of Oakland delivers an immediate, strategically important addition to our portfolio of services, and most importantly brings into the Softcat family a fantastic group of people who we know well and who align closely to our culture and values."
Richard Corderoy, Oakland CEO, added:
"We are excited to join forces with Softcat. By combining our deep expertise in data and AI consulting with Softcat's extensive portfolio and market presence, we can deliver unparalleled value and innovation to our clients. This partnership marks a significant milestone in our journey, and we're looking forward to achieving great things together."
For further information, please contact:
Softcat plc: +44 (0)1628 403 403
Graham Charlton, Chief Executive Officer
Katy Mecklenburgh, Chief Financial Officer
Michael Watts, Head of Investor Relations
FTI Consulting LLP: +44 (0)20 3727 1000
Ed Bridges
Matt Dixon
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