Decision Tech sees eight-fold increase in mobile revenues
Decision Tech, the BGF backed performance marketing and technology company, has seen revenues from its mobile business unit increase eight-fold in 2017. The company’s strong trading performance, with revenues for the product line expected to double in 2018, has been attributed to strategic acquisitions of similar companies and significant new client wins.
In the last three months, Decision Tech has also bought two mobile and gadget recycling sites – sellmymobile.com and comparemymobile.com. In addition, Decision Tech provides technology, data and performance analytics for brands including Gocompare.com, Confused.com and Comparethemarket.com, and other partners are expected to be announced shortly. The company was founded in 2005 and received £10 million investment from BGF in 2012.
Decision Tech’s technology proposition is based on offering major brands customised comparison solutions for handsets, SIMO and broadband bundle packages. The company also offers an analytics proposition that gives it a unique position in the market, which has enabled subsequent growth. Tech and data revenues will account for over one third of revenues by the end of 2018, a significant increase from tech and data accounting for 19% of overall revenues in 2017.
Decision Tech’s acquisition strategy is focused on companies that add to its product and brand portfolio. These companies are then moved onto Decision Tech’s technology and performance marketing platforms, where margins are increased by upping conversion and commercial metrics, increasing efficiencies and scaling traffic. The company also has a pipeline of new tech and data partners, which are expected to go live in the fourth quarter of 2017.
Michael Philips CEO at Decision Tech explained: “Strong cash generation and long term funding from BGF has allowed us to invest in acquisitions of mobile recycling companies, as well performance analytics, which our price comparison partners find essential. We are close to launching new data and analytics products, pivoted from our existing comparison propositions, in the year ahead.”
Mark Nunny, an investor at BGF, added: “We are backing a team that is both driven and disciplined in its approach to identifying opportunities, with strong growth estimated for 2018. We are very much looking forward to seeing this business scale up its activities over the next 12 months.”
Business funding news
Entia raises £9 million to launch virtual oncology solution
Entia, a medical technology business, which recently announced a commercial partnership with Pfizer UK, raised £9 million earlier in the…
Evoke Creative acquires Apposing to bring ‘in-store and in-pocket’ offering under one roof
BGF portfolio company, Evoke Creative Ltd – the leading specialist in kiosk, digital signage and interactive solutions for the retail,…