2/13/2012 10:35:56 AM
Six Degrees on hunt for new businesses after fresh funding
Unified communications business Six Degrees is looking to acquire new businesses after securing a new £25m credit facility.
The business signed the long-term deal with Clydesdale Bank. It said the cash would be used to support the group's strategy of organic and acquisitive growth.
Six Degrees' CFO Ronnie Smith said: 'This is testament to how successful the group has been in executing its strategic plan and we’re now at a run-rate of £30m revenue and £9m trading EBITDA. This represents comfortable double-digit organic growth and we’ve delivered well over £1m in cross-sales in less than six months, proving that our model is working superbly well. In a challenging economic environment we’re seeing increasing demand for our range of hosting and cloud services.'