Netcall plc has acquired Skore Labs Limited for £6.225 million

LONDON, UK: Netcall plc (AIM: NET), a leading provider of intelligent automation and customer engagement software, announced the acquisition of Skore Labs Limited, a cloud-based process improvement software company.

The total consideration for the Acquisition, including earnout, is up to £6.225 million, of which up to £4.225 million is dependent on the performance of Skore. The initial consideration is £2.0 million, payable in cash from Netcall’s existing cash resources, with £1.8 million payable on completion and £0.2 million is held back and deferred for 12 months.

Skore Labs (www.getskore.com) is a UK company that provides a cloud-based software solution for business process discovery, mapping, analysis and management.

As an intuitive and collaborative solution, users can rapidly identify process problems as well as opportunities for optimisation to drive operational improvement, innovation and efficiencies.

Based in Portsmouth, Skore Labs was established in 2014 and has c.120 customers across a range of industries, including Ashford Borough Council, Cielo, Holland & Barrett, Northrop Grumman and University College London NHS Trust. All of the current team will remain with the Netcall group.

For the year ended 31 December 2023, Skore’s revenues have grown 96% to £449k (2022: £229k) with an adjusted EBITDA loss of £55k (2022: loss of £159k) (figures from unaudited managements accounts). Annual recurring revenue (ARR) from cloud subscriptions increased by 179% to £651k (2022: £233k).

Process mapping is a foundation capability that enhances Netcall’s current product portfolio. With the expanded Liberty platform that incorporates Skore’s process mapping solution with Liberty’s low-code, robotic process automation and AI solutions, customers will be able to build solutions, streamline and automate processes faster and easier, to improve operational effectiveness and efficiency.

The expanded Liberty platform also allows Netcall customers to add process mapping to their subscriptions, creating cross-selling potential and new customer opportunities for organisations that want a comprehensive all-in-one process solution.

James Ormondroyd, CEO of Netcall plc commented: “The acquisition of Skore fits excellently within our stated acquisition rationale, bringing a highly complementary technology offering. Business process improvement is seen as an increasingly important part of the puzzle for companies wishing to improve their interactions with customers, and we believe this acquisition accelerates our position in a rapidly growing market for digital transformation and automation.

“We have a successful track record in growing our market opportunity and cross-sell potential through organic and acquisitive product expansion, and the addition of the Skore process mapping capabilities is a step forward in this journey. We look forward to welcoming the Skore Labs team to Netcall.”

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