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 Cheltenham, UK.Originally formed in 1990, MGB has over 20 installations of its product suite Quantum across England, Scotland & Wales and has a wide product range which covers Canvassing, Marketing, Direct Delivery, Subscriptions, Reader Clubs, Free Newspaper Distribution, National and Local Leaflet Booking, Newsagent and Wholesaler Publishing and Digital Street Mapping.
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 UK, but with our extensive and growing presence around the world we are keen to internationalise the product as quickly as possible and offer a strong and compelling Distribution and Circulation solution to all the markets we serve."
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."
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 Berkshire, England; Connecticut & California, USA; Victoria, Australia; Kuala Lumpur, Malaysia and Belo Horizonte, Brazil.
About Miles 33
Contact: Michael Moore, Tel: 01344 861133
