An Edinburgh-based provider of IT and communications products and services has added a London office to its business after buying a rival firm. Glen Group plc bought IG Software, which trades as inGroup, for £1.35 million.

The deal was satisfied through the issue of 200 million shares and £250,000 in cash funded from existing resources and debt.

Glen completed the deal through its Eclectic Group subsidiary, which has worked with inGroup on previous projects.

This deal is part of the group’s strategy of building its business through bolt-on acquisitions. inGroup was selected as a suitable target due to its services complementing Electric’s business intelligence operations. The acquired business’ consultants also strengthen its corporate performance services.

Prior to completion, Electric had consultants working in London, but this deal has given the company a permanent base in the capital that will be led by inGroup’s principals, Surit Patel and Jofi Alexander.

Glen Group is an IT consultant that provides telecommunications and hosted broadband services to small businesses. It also supplies business intelligence and related IT services to the corporate and public sectors through offices in Glasgow, Edinburgh, Rotherham and London.

Eclectic specialises in business intelligence that helps organisations in the public and private sectors to monitor, manage and improve performance.

inGroup provides software and consultancy services to support organisations in assessing performance as well as improving its financial reporting, budgeting and planning needs.