Loan management provider Anchor acquires managed services business

The seven-figure deal includes the assets and contracts related to the managed services side of VTG Cloud. VTG Cloud will continue to operate the other aspects of its business.

It includes two data suites operating out of two of London facilities – Telehouse North 2 and Equinix Hex LD8. It means Anchor can now offer existing and new customers platform as a service, infrastructure as a service, disaster recovery as a service, and backup as a service.

Anchor employs almost 60 people across its two offices in Birmingham and Bangor. The company provides software for the financial services sector with its loan management platform, Sentinel, which is used by around 200 customers. Its Journeyman product is also used by over 100 home credit providers.

Chief executive Mike O’Sullivan said: “We have worked with VTG Cloud for over eight years with them providing us with us with managed services for all of our software-as-a-service-related business. When the opportunity came up to acquire that side of the business it was a natural fit for us and our future strategy.

“We will be able to offer new services to existing clients around systems and infrastructure – services such as infrastructure as a service, disaster recovery as a service and backup as a service. The potential of the new operation is huge.

The acquisition of the Hampshire-based VTG Cloud business was completed during the Christmas period.