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Records tumble at award-winning tech firm
A Queen’s Award-winning technology company established in 2004 to develop mobile phone software has posted record profits and turnover in the year when private-equity firm Inflexion took a minority stake in the Cheshire business.
Established by entrepreneurs Nick Stammers and Jon Clayton, Mobica today provides software engineering services to sectors such as automotive, semiconductor, finance and television, with a particular focus on international markets.
In the company’s accounts, pre-tax profit climbed from £5m to £10.3m in the year to 31 December 2015, while turnover rose by £10m to £38.5m.
The business cited ongoing investment in its sales and delivery teams for the “very strong year” and said increasing awareness of the possibilities created by cloud computing and the Internet of Things would help drive further growth.
In September, Manchester-based private equity firm Inflexion completed a minority investment in Mobica, with the aim of helping the Wilmslow business accelerate organic growth in its engineering base.
Mobica was also awarded the Queen’s Award for Enterprise during the year in recognition of its international business which accounts for about 70 per cent of group turnover.
The business has offices in Poland, Silicon Valley and Mexico. Read more
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