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Fulcrum acquires PTG to flesh out European expansion

UK IT and cloud services provider the pure technology group (PTG) has been acquired by Fulcrum Technology Group BV, which is building a pan-European services operation.

Last July, Fulcrum completed an investment in Germany-based SYSback, a provider of cloud and SaaS service management solutions.

Fulcrum plans to retain PTG’s senior management team and all personnel. “As part of Fulcrum, PTG will gain access to a broader customer base and will be influential in helping expand the group’s strategic portfolio of products and services,” said Fulcrum.

The value of the deal has not been disclosed. Founded in 2007 and led by CEO Stephen O’Brien, PTG is said to have grown every year it has been in business, reaching £39.7m in sales in its last financial year, and employing 140 people at three locations in Leeds, Wakefield and Wigan. “We’ve had many approaches over the last couple of years but Fulcrum’s pitch was different though - they have a bigger strategy in play, which will propel us towards being amongst the top echelons of UK IT service providers,” said O’Brien

Fulcrum CEO Shane Maine added: “We see clearly the expanding capabilities we can develop together in the areas of secure remote work and enterprise service management to create a successful future together.”

Photo: from left to right: Cliff Fox, chief operating officer (PTG); Geoff Botting, chief financial officer (PTG); Stephen O'Brien, chief executive officer (PTG); and Shane Maine, chief executive officer (Fulcrum)