Miles 33 Acquires MGB Systems Limited
Miles 33 is delighted to announce that it has
acquired MGB Systems Limited “MGB” and its industry leading products for
Circulation, Subscription and Free Newspaper Distribution with its headquarters
in
Despite the recent economic climate, Miles 33
finished another successful year in 2009 with Revenue finishing at an all time
high and Profit increasing again for the 16th consecutive year. During
this period Miles 33 saw the final integration of its previous acquisitions all
of which have performed well. 2009 also saw significant orders being won in the
Latin American and Asian markets.
Commenting on the sale, Gerry Baylis one of the two
owners of MGB said “We feel we have taken MGB as far as we can as individuals,
and now the company needs the infrastructure and resources of a larger organisation
to maximise its potential. Miles 33 has a global reach and I am excited at the
prospect of seeing Quantum reach new geographical markets. This is the right
move at the right time for MGB, its customers and its staff and I look forward
to helping Miles 33 integrate our products into their already extensive portfolio”.
Gerry Baylis and Mark Goldsmith will remain with Miles
33 through the handover period with an aim of integrating the company fully in
a timely manner.
Michael Moore, Chief Executive of Miles 33
added “When Gerry and Mark approached Miles 33 about a potential acquisition I
was very excited at the prospect of adding such a strong product offering to
our impressive suite of solutions. Currently the MGB Quantum product range has
only been deployed in the
Mike continues “The industry is undergoing
extreme changes at present and I expect to see more M & A activity in the
supplier sector through the next year or two. I see
Miles 33 as a key consolidator of suppliers to the markets we serve. In 2009 we
saw another year of impressive growth despite the financial turmoil in the general
economy and I am proud that Miles 33 has the financial strength that enables us
to continue our growth strategy both organically, and importantly via
acquisition.”
About Miles 33
Miles 33 is a global software and solutions
provider for the Publishing and Media markets. With over 30 years of
experience, Miles 33 is one of the largest and longest serving providers in
these industries. The current generation of Miles 33 solutions are designed to
manage multi-media products and cover all aspects of Advertising, Editorial,
Internet and Digital Asset Management to help publishers increase their
revenues whilst lowering costs and improving productivity. Miles 33 has offices
in
Miles 33
Miles House
Contact: Michael Moore, Tel: 01344
861133