Metrofile has announced the acquisition of KwaZulu-Natal based specialist image processing provider Innovative Document Management (IDM).
The acquisition is a strategic one designed to bolster the specialist skills already resident within Metrofile’s image processing division. While it is not expected to have a material effect on overall turnover and profitability, it will provide the company with the opportunity to enhance the services currently provided in this area.
In addition, the acquisition will provide Metrofile with the know-how and experience needed to further enhance its current image processing service offer and to more effectively target those industries with the need for tailored solutions.
Graham Wackrill, CEO of Metrofile, says: “Last year we made a commitment to stakeholders that we would grow the business organically and where the opportunity arose, through strategic acquisitions. The opportunity to acquire IDM was timely and will provide us with the additional skills needed to develop and further enhance our image processing offer, and in the process to build the capacity and capability required to grow our share of the market. Mike Grey, founder of IDM and an ex-employee of MGX, is highly respected for his knowledge of the industry.”
IDM, is based in Durban from where it provides specialised services in the processing and imaging of documents. Focussing on customers with the need to integrate the outsourcing of their image processing requirements with their internal systems and procedures, IDM has been successful in carving a niche for itself within the manufacturing and logistics sectors.
According to Wackrill the deal will allow Metrofile to grow its image processing base as well as its level of expertise in this area. “While there are subtle differences in the services provided and the markets targeted, IDM’s business model closely mirrors our own and therefore we envisage a smooth transition of both staff and customers to Metrofile,” he adds.
“Importantly for customers, the change will result in increased capacity and operational efficiency and the opportunity to take advantage of the extensive and growing range of services offered by Metrofile as well as our expanding national and international footprint. While the acquisitions will provide us with some opportunities to increase operational efficiency, we foresee little to no disruption to both staff and customers,” ends Wackrill.
The acquisition of IDM is being funded through the issue of shares in Metrofile.