ELEVATOR has unveiled a major acquisition in the Central Belt in a six-figure deal.
As one of Scotland’s leading business support organisations, the social enterprise has secured a deal to acquire Targeting Innovation, a leading UK innovation and technology consultancy.
Part of Elevator’s growth trajectory, the deal will bring its headcount to over 100 and bolster its existing capabilities in the digital, technology and innovation sphere whilst increasing its National footprint.
Glasgow-based Targeting Innovation was founded in 1993 by Scottish Enterprise and four Scottish Universities to support the commercialisation of new technology products and services.
Working across the UK and delivering projects and programmes internationally, the consultancy has built a solid reputation for helping SMEs and large corporations leverage digital technologies and drive value from innovation. From improving process efficiency and developing new products, to creating international growth strategies and robust commercialisation plans.
The acquisition allows Elevator to further implement its strategic plan to stimulate the development of an entrepreneurial led economy across Scotland through its delivery of business support services. In addition, it enhances the natural synergy between the two companies providing opportunity to deliver on larger digital and innovation driven projects for existing and prospective companies alike.
Targeting Innovation will retain its long-established brand name.
Elevator CEO, Professor Gary McEwan, said: “Targeting Innovation is an industry innovator. This acquisition is exciting for both parties, it is a huge opportunity to create building blocks to drive innovation forward across Scotland.
“The team brings a wealth of expertise in innovation and digital development, and during a time when many businesses are going through a period of transformation and change, our synergies will help individuals find the support they need to thrive. The path ahead of us in 2021 is a positive one.”
George Boag, Chief Executive at Targeting Innovation, commented: “This is a landmark moment in the history of our company, and we’re excited to be joining the Elevator family. This is a strategic move for both organisations and our combined strengths and expertise will provide a solid foundation to deliver additional value for our customers, staff, and stakeholders.
“2021 will have its own challenges – COVID recovery and Brexit, therefore business support and the entrepreneurial landscape is going to be crucial; everything will be underpinned by a strong economy.”
