Funding boost sets up netConsult acquisition by TIG

Gold Microsoft Cloud partner TIG's presence in the financial services sector will be more strongly felt following its acquisition of netConsult. The deal is hailed as the first in a string of buys enabled by a £6m funding boost from BGF as TIG seeks to become the UK's primary cloud services provider for medium sized UK businesses.

As part of the transaction Mark Nunny, a BGF investor, joins the TIG board. He stated: “Many mid-market corporates will need to move to the cloud over the next five years and TIG is well placed to support them.”

The acquisition doubles Watford-based TIG’s headcount to 90 staff and netConsult’s management, including co-founder and CEO Richard McDonald, will lead an expanded team.

Finance sector specialist netConsult will also receive a boost from TIG’s expertise in AI, data analytics and Machine Learning. 

netConsult provides technology consultancy to global alternative investment clients. Its customer base has assets under management of more than $100bn. 

TIG CEO Des Lekerman (pictured) stated: “The acquisition adds to our growth and service offering and represents another step towards our goal of becoming the UK’s primary cloud services provider for medium sized UK businesses.

“Bringing BGF on board provides us with backing from an investor with substantial experience and success working with companies in our sector. 

"Its minority approach means that we gain from its financial support and expertise but retain full control.”

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