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Defaqto purchase delivers 20% revenue boost for SimplyBiz

Support service provider Simplybiz has seen revenues jump 20 per cent over the past six months after its acquisition of research agency Defaqto.

Simplybiz acquired Defaqto in March, which has helped contribute to a 30 per cent growth in EBITDA over the half-year to June, according to a trading update this morning.

Simplybiz says the integration “continues to progress well”.

However, net debt at the Simplybiz group remains over £30m, passing that milestone after the recently-listed firm paid a £1.6m dividend in April.

It still intends to pay a further interim dividend though, since overall performance remains “in line with expectations”.

Simplybiz joint chief executive Matt Timmins says: “We are delighted to have completed the acquisition of Defaqto in March 2019 and welcome their directors and staff into the Simplybiz Group”

“The integration of the business is progressing well and in line with management expectations. As well as delivering the acquisition, we have continued to grow the organic revenues and adjusted EBITDA of the group.”

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