Comms Business Magazine Editor Ian Hunter speaks exclusively to GCI’s CEO Adrian Thirkill and CFO Mark Allen following their announcement today that they have acquired the assets of cloud based applications provider Outsourcery.
Why has GCI acquired Outsourcery’s assets?
Adrian Thirkill: The acquisition builds upon our already strong UC foundation and will help GCI develop a truly market-leading position. This is a rising market – Unified Communications (UC) is reported by PwC to be growing at five times the rate of traditional voice. This acquisition represents a further investment in that market by GCI and blends the best of Outsourcery with the best of GCI.
We have also previously reported our commitment to a UC Centre of Excellence, and this purchase adds real resolve to those words.
Additionally this move further develops our existing partnerships; we are a Vodafone Platinum Partner, Microsoft Gold Partner, and Virgin Media Business Strategic Partner.
There was a lot of interest from the market in Outsourcery but we achieved the right commercial deal to make it fly and, most importantly, provide assured continuity of service to Outsourcery’s customers and resellers.
But Outsourcery were perceived by many as a troubled company, so what did you see in them?
The market will take its own view on such issues. What we saw were some talented staff, some well-engineered platforms, a superb Skype for Business capability, great customers and a strong qualified pipeline. Beyond that, we also liked their commitment to simple self-service portals.
This is something we are evolving at GCI and Outsourcery’s skills in this area will help us accelerate that aspect too.
But Outsourcery had significant debt, how is that going to impact GCI?
GCI CFO Mark Allen: The first point is that GCI and Outsourcery are completely different in the way they have been operating. GCI is cash generative, financially secure, very focused and an altogether more mature organisation.
The second point is that this was an asset purchase, not the full Outsourcery entity so GCI has no liabilities beyond servicing Outsourcery’s customers and platforms. The deal we have concluded is firmly an EBITDA enhancing acquisition
Will you be integrating Outsourcery with GCI?
Adrian Thirkill: Yes, that process starts immediately and we’ll keep everyone updated
Will you be making further acquisitions?
Adrian Thirkill: Yes. Some will be synergy, some will be capability building but all will be aligned with GCI’s growth plan and again, we will keep you updated.