Aspire Technology Solutions, a Gateshead-based technology firm backed by LDC, has reported significant growth, with revenue nearing £40 million for the year ending 29 February 2024. The company's EBITDA also improved, reaching £5.6 million. This growth is attributed to the firm's focus on innovation, customer-centricity, and strategic expansion.

The company's revenue increased by £23.6 million, and its employee headcount rose by 5%, from 238 to 250. This growth was primarily driven by organic expansion and the successful onboarding of new customers. Aspire's progress has been bolstered by a significant minority investment from LDC in 2022, which valued the business at £85 million.

Aspire's acquisition of Cloud Cover IT has also contributed to its revenue, with a more substantial impact expected in the coming year. Additionally, the company invested £1.7 million in advancing its private cloud technology and expanding its connectivity network. This investment led to a 97% year-on-year increase in security-related revenues.

Chief Executive Chris Fraser expressed pride in the company's robust performance, highlighting the importance of their acquisition of Cloud Cover IT and ongoing investments in technology and cybersecurity. He noted that the company's headcount had surpassed 280, further enhancing their ability to deliver value and support to customers.

Looking ahead to FY25, Fraser is confident that Aspire's strategic initiatives and commitment to delivering exceptional value will drive further growth and success. The company's focus on cybersecurity and modern workplace solutions remains a top priority, as businesses increasingly rely on secure and accessible data in an evolving threat landscape.