Integrated information and data management services firm Restore plc (LON: RST) said on Tuesday that it has acquired 100% of the share capital of Big Data Management Ltd (1 Big Data), a records management business based in Tilbury, London.
1 Big Data was established in 1994 and had been managing corporate clients records for over 25 years.
Restore said the business is expected to bring in approximately £600,000 per year from its 160,000 boxes. The takeover is part of the company’s growth plans via strategic acquisitions and margin improvement.
Charles Bligh, CEO of Restore, commented: “With our growing confidence in the performance of Restore, we have reactivated many conversations with companies aligned to our growth strategy over the last six months and I am delighted we have agreed this acquisition in the Records Management business as it brings over 160,000 additional boxes to the Group.
“1 Big Data has a great team and a first-class reputation for service and we intend to continue the good work with its customers, whom we welcome to Restore.”
Restore’s share price has risen 1.7% to 389p so far in today’s session.
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