Technology company Inoapps has moved to new headquarters in Aberdeen as it prepares to double its workforce with an expansion into the US and the Middle East.
The firm, which specialises in supplying Oracle software and hardware to clients across the oil and gas, construction and defence sectors, said the move to the new location was driven by its recent growth.
Business Growth Fund (BGF) recently invested £10m of growth capital in Inoapps, which now expects its team of more than 200 employees and associates to double by 2015.
Following the investment, founder and chief executive Andy Bird said he was on the acquisition trail, with at least two deals on the cards before the end of the year. At least one of those is expected to expand the group’s presence within the UK.
Bird said: “Since its inception six years ago, Inoapps has gone from strength to strength and our move to larger premises comes at a crucial time in the company’s development.
“We are on track to achieve our turnover target of £50 million by 2015 and the recent BGF investment will act as a base from which we can further develop our offering and widen our international capabilities.”
Inoapps already has offices in Edinburgh, Derby and Kuala Lumpur, and generated £20m in turnover last year. Plans are in place for the company to open a second international office, in Bahrain, before the end of 2013.
Bird, who founded Inoapps in 2006, said the firm’s increased international presence reflects the strong demand for its services.
“Our recent investment in Malaysia and the planned investment in the Middle East caters to largely underserved regions,” he said. “Both Asia and the Middle East present fantastic opportunities for us to continue to deliver excellent results to our clients.”
But the group also underlined its commitment to the Granite City with the investment of almost £600,000 in the new premises in the city’s west end. The 2,000sq ft site will house the group’s head office operations.
Bird said the company’s growth was set to continue. He noted that the firm has the potential to secure more new business, although he added that caution was needed in order to ensure service to existing clients is not affected.
“We have plans in place to expand our offering further in the US as well as the Middle East,” he said. “We will build on our existing routes to market as well as developing new opportunities that will allow us to showcase our abilities to new clients.
“It is important that, during this ongoing expansion, we do not lose sight of the requirements of our existing customers. The care and commitment offered across all market sectors is reflected in our success to date.”