Cambridge technology consultancy, Sagentia, has boosted its hand in the oil, gas and alternative energy sectors through the £6.5 million acquisition of OTM Consulting, a 35 person strong international technology management consultancy with a blue-chip customer base that inludes BP, ConocoPhillips, Schlumberger, Shell and Statoil.
Sagentia says the deal should accelerate its development in what it has identified as an area for growth and investment and anticipates it will be earnings enhancing in the current financial year.
Sagentia will pay £5.3m in cash and £1.2m in shares. In 2012 OTM generated revenue of £4.3m and profit before tax of £0.8m.
Founded in 1993 by MD, Chris Dudgeon, OTM is based in Guildford, Surrey, with offices in Houston, USA and Dubai. Dudgeon will continue as MD at the business.