Fabric Technologies Announces 40% Growth In 2008

• Friday, 16 January 2009

London based technology consultancy continues growth curve despite tough trading conditions

Release Date: 16-01-09

Fabric Technologies has announced a record year in which sales increased 40% from £5.2M in 2007 to £7.3M in 2008. The company - which was formed in 2007 following the merger of Microsoft applications specialist OBS and System Integrator Psychosis – has hit ambitious growth targets for the second year in a row. Fabric’s sales have increased by over 40% year on year since the merger with sales doubling to £7.3m in two years.

The strong performance has seen Fabric return to profit following a period of internal investment in 2007, which included the launch of a new Central London HQ and Network Operations Centre. This has enabled the business to break into the upper tier of the SMB sector, take on larger projects and strengthen their position as a leader in Financial Services Technology. Fabric reports particular success within Low Latency Infrastructure, Business Applications (CRM, SharePoint) and Unified Communications markets.

CEO Misha Gopaul, comments: “Our Cisco practice has doubled over the past 12 months and we are delighted to have achieved Cisco Premier Partner Status with Unified Communications specialisation after continued investment in skills and training.

Fabric also received an award at Cisco’s annual Business Solutions Workshop in November, in recognition of their success in using Cisco Finance to deliver innovative technology solutions. Gopaul comments “In the current economic climate, Cisco Capital are enabling businesses to invest in the technology they need to stay lean and competitive, whilst at the same time keep a tight rein on their operational expenditure. It continues to play a key part in our strategy for 2009.”

Fabric’s investment in their Unified Communications division along with strong experience in financial services also paved the way for the formation of a strong partnership with IP Trade, a leading vendor of IP dealerboard systems which integrate with Cisco Communications Manager. Fabric was awarded ‘IP Trade Global Partner of the Year’, having completed successful projects with a number of prominent financial trading organisations.

Fabric’s Chairman Simon Kentish adds: “Our Business Solutions practice has had an extremely successful year, working on a wide range of projects including Microsoft Dynamics CRM and Microsoft SharePoint deployment and customisation – predominantly within the financial and professional service sectors.”

Kentish concludes: “Although 2009 is undoubtedly going to be a tough year, we remain optimistic. We are seeing customers look to technology to provide them with the tools their business needs in these uncertain times. Our broad range of skills is enabling us to adapt with the times and provide our customers with solutions for customer retention, cost containment and improved business decision making.

"Over the past 12 months, we have continued to invest in our managed services and service delivery platform. As a result of this along with a number of initiatives with our partners we have a healthy pipeline in place.”

-ends-

Note to Editors

Financial Performance

FY06: £3.6m
FY07: £5.2m
FY08: £7.3m

About Fabric

Thinking laterally and imaginatively, Fabric integrates best of breed technologies, creating business solution for customers in demanding environments that provide them with competitive advantage.

Fabric was established in 2007 following the merger of Psychosis (est. 1998) and Open Business Systems (est. 1992). The business is profitable, privately owned and employs 60 staff based in Central London.

The company has a strong track record of work across many verticals including finance, legal, professional services and education.

Fabric is a Cisco Premier Partner with Unified Communications Specialisation and a Microsoft Gold Certified partner.

For more information, please contact Nick Hardy on 0207 841 6752 or email: nickh@fabrictechnologies.com. To visit Fabric's website, please click here

This press release was distributed via SourceWire, a service from Daryl Willcox Publishing, on behalf of Fabric Technologies. For more information visit http://www.dwpub.com/pressreleasewires