IT group Matrix snapped up
A Cheshire software developer, which counts Next, Maplin and Go Outdoors as clients, has been acquired by a private equity-backed IT group.
The Knutsford-based company has been purchased by Jigsaw24, backed by NorthEdge Capital.
Matrix is behind a software application which integrates product management and publishing software services. It is mainly aimed at retailers. It flagship product, Matrix CMS, complements Apple and Adobe.
Martin Balaam, chief executive of Jigsaw24, said: "Matrix is a perfect fit for Jigsaw24, with a software product that sits well with Adobe and Apple and complements our existing range of services and our Creative customer base.
"Furthermore, with the support of Jigsaw24's sales and marketing team we are confident that future sales of Matrix’s software can be significantly enhanced."
Matrix's managing director Nick Speakman added the deal would help to grow the business further and take it to "the next stage of its development".
Jigsaw24, which was founded in 1992, is headquartered in Nottingham and also has operations at Salford Quays.
Tom Rowley, investment director at NorthEdge Capital, said: "The acquisition is the second this year for Jigsaw24, following a sustained period of sales growth for the business.
"The purchase of Matrix strengthens Jigsaw's offering, and puts the business in an enviable position from which to continue its growth."