Made Tech buys Glasgow housing tech firm in £6M deal, enters Scotland
What's the deal? Made TechDealroom has a profile for this one. Try Dealroom → has acquired Target Applications, a Glasgow-based housing technology provider, in a deal worth up to £6 million. The company, which trades as CX FeedbackDealroom has a profile for this one. Try Dealroom →, serves more than 100 customers across social housing and local government.
What does CX Feedback do? Founded in 2010, its technology helps social housing providers in Scotland, England, and Wales collect tenant feedback, manage complaints and cases, and automate workflows and reporting. It brings an estimated £1 million in annual recurring revenue to the group; recent figures show ARR of £1.05 million.
The terms: The acquisition is funded entirely from Made Tech's cash reserves. An initial £3 million was paid in cash on completion, with up to £3 million more due two years later, tied to ARR growth of up to 150% over 24 months.
Why it matters: Made Tech provides digital, data, AI, and technology services to the UK public sector, with offices in London, Manchester, Bristol, and Swansea. The deal broadens its customer base and adds specialist sector expertise.
Market expansion: The acquisition gives Made Tech its first office in Scotland. Made Tech is buying the business from founder and sole shareholder Johnathan Briggs, who will stay on to drive growth.
What they're saying: "We are delighted to have completed our first acquisition utilising our strong balance sheet to accelerate growth and performance," said Rory MacDonald, chief executive of Made Tech Group. He added that CX Feedback is "a profitable, growing public sector business with recurring revenue and strong customer relationships."
The signal: This is Made Tech's first acquisition, signalling a shift toward using its balance sheet for growth. By targeting social housing — an area MacDonald calls one "of national importance" — it is deepening its public sector footprint through consolidation rather than organic expansion alone.
Read more: insidermedia.com
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