With annual revenues of almost £40 million just over five years since its launch, Incremental plans to continue with its rapid expansion under its new ownership.
Bosses said the backing of Telefónica Tech would enable the group to make “strategic and long-term investments in recruitment and development at scale”. Incremental Group employs some 350 people.
The firm, which acquired data specialist Adatis in October 2021, said it had experienced an acceleration in the demand for services among its customers and the wider market.
Neil Logan, chief executive at Incremental Group said: “I am immensely proud of what Incremental has achieved since our inception a little over five years ago. As we looked ahead to the next stage of our development, it was important that we secured Incremental the right support for the long term.
“Becoming part of Telefónica Tech propels us into the next phase of our journey and enables us to further scale the business, creating exciting opportunities for our people and our customers,” he added.
Martin Hess, boss of Telefónica Tech UK and Ireland, added: “This is an incredibly exciting acquisition for Telefónica Tech UK&I. It is a major endorsement of the UK and Ireland market, and Telefónica Tech’s role within it.
“Acquiring strong apps, data and analytics capabilities is the next stage in our journey to be major players in the cloud market,” he added.