Newcastle-based software company Metatech Solutions has been acquired by TXP (Technology x People), a digital transformation and technology resourcing business backed by private equity firm Aliter Capital.
The deal for an undisclosed sum will see Metatech become part of the TXP group, expanding its capabilities in IT consulting, software development and specialist tech resourcing for clients across a range of industries.
Metatech specialises in automation tools for modernising legacy IT systems, particularly for the Gen platform – a development tool used widely across sectors such as finance, healthcare, aviation and telecoms. Its proprietary software suite, MigrationWorks, helps organisations update and migrate business-critical systems to modern platforms including Cobol, Java and C# .NET.
The company has built a reputation in the niche area of Gen legacy modernisation, working on global projects and alongside major IT integrators. As part of the TXP group, Metatech’s tools and expertise are expected to play a key role in delivering pipeline projects and generating new business opportunities.
Metatech director Andy Scott will remain with the business, working with TXP CEO John Antunes to support its next phase of growth.
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Antunes said: “This acquisition comes at an ideal time for both businesses. We know the team at Metatech very well and so we know how much this deal will broaden TXP’s existing credentials, adding unique automated solutions, scarce technical skillsets, knowledge and experience.”
Scott added: “There is a very positive outlook for the Gen conversion market. Metatech’s proven track record and unique technology solutions will place the group in a strong position to benefit from this growing demand.”
Aliter Capital has made several investments in the UK ICT services space in recent years, and says it will continue to support further growth and acquisition activity through the TXP platform.
