Horizon Buys U.K. E-Commerce Solutions Company
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[London, ENGLAND] Horizon Technology Group announced Tuesday that it has acquired Commerce NTI, one of the U.K.'s top e-commerce solutions companies.
Commerce NTI is said to have a strong skills base across a whole range of e-commerce technologies, including security, banking, scalable transaction architectures, and software development. It employs 55 people and has traded profitably for several years.
This latest acquisition by the London and Dublin quoted Internet services company follows its recent purchase of Managed Training Services (MTS) Ltd, a U.K.-based Internet training and consulting company for around US $7 million.
Samir Naji, chief executive of Horizon Technology Group, said Commerce NTI is especially strong in the design, build and support of enterprise level e-commerce platforms.
"The management team has clearly demonstrated their ability to grow quickly and profitably," he added.
Speaking for Commerce NTI, Joint Managing Director Neil Jolliffe said the two companies would be able to leverage their respective skill sets, customer knowledge, market vision and business experience to enhance the growth and performance of the whole group.
Among Commerce NTI clients have been many blue chip companies requiring high value, large volume e-commerce solutions. They include Cable & Wireless, Toys 'R' Us, British Red Cross, Dun & Bradstreet, ft.com, AutoTrader and Pharmacydirect.
In a further announcement Tuesday, Horizon Technology Group said it had appointed a new chief financial officer. Cathal O'Caoimh joins the company from Hibernian Group/Norwich Union Ireland where he has been group finance director for the past four years.