Specialist IT group SciSys, which has a base in Bristol, is expanding into the retail industry following the acquisition of a small software application development firm.
SciSys is paying a maximum of £3.2m for Leicester-based Xibis, which it expects to be immediately earnings-enhancing. 
SciSys, which works in sectors spanning space, defence, media and government, the Xibis has a proven reputation for developing high-quality and secure web and mobile applications for retailers such as Halfords and Interflora.
It has also developed ‘Internet of Things’ applications and is exploring the use of innovative mobile iBeacon technology with some of its customers. iBeacons will enable retailers to offer personalised special offers or additional services via their mobile devices when they are in the vicinity of the store.
Xibis has grown strongly this year with turnover expected to be around £1m against £800,000 last year and adjusted pre-tax profit of around £200,000 against a £20,000 loss.
SciSys, which also has is head office in Chippenham, as well as offices in Brislington and Germany, said Xibis will operate independently under its existing senior team, including its sole shareholder, until at least the end of the earn-out period. Two SciSys directors have joined the Xibis board in a supervisory capacity.
SciSys chairman Mike Love said: “The acquisition is in line with our stated strategy to accelerate growth through appropriate acquisitions.
“Xibis has a culture and ethos that fits well with that of SciSys; an essential criterion for successful future integration. Xibis also brings with it the means to address the rapidly changing web/mobile markets as they adopt new and innovative technologies.
“These technologies will eventually be adopted by SciSys’ traditional client base allowing for significant cross-fertilisation between the businesses.”
