TXP acquires Metatech to bolster legacy IT systems

UK-based digital transformation firm TXP has acquired Newcastle-headquartered Metatech Solutions as part of its ongoing scaleup strategy.

The acquisition strengthens TXP’s position in the area of Gen application migration, which remains critical for large-scale legacy systems in banking, insurance, and public sector organisations worldwide.

The deal, backed by private equity firm Aliter Capital, brings Metatech's proprietary automation platform ‘MigrationWorks’ into TXP’s growing portfolio. The terms of the transaction were not disclosed.

Metatech’s software automates key stages in the modernisation of legacy Gen-based systems, an old but enduring model-based CASE (Computer-Aided Software Engineering) tool still running critical infrastructure across multiple industries. MigrationWorks supports transitions to more modern architectures such as Cobol, Java, and C# .NET, and also includes consultancy services around IT strategy, Gen model re-architecture, and tooling integration.

“This acquisition comes at an ideal time for both businesses. We know the team at Metatech very well and so we know how much this deal will broaden TXP’s existing credentials, adding unique automated solutions, scarce technical skillsets, knowledge and experience,” said John Antunes, CEO of TXP. “Moving forward, this specialist know-how will be a vital element in delivering significant pipeline projects, as well as generating a wealth of new business opportunities.”

The deal marks the third acquisition under Aliter Capital’s growing digital transformation group, following previous buys of Concept Resourcing in 2022 and Jumar in 2023. Aliter has signalled continued ambition to consolidate UK-based digital and ICT services firms to serve a diversified blue-chip client base.

“We have seen rapidly increasing demand for modernising legacy IT systems and we believe there is a very positive outlook for the Gen conversion market,” said Andy Scott, Director at Metatech, who will remain with the business. “Metatech’s proven track record and unique technology solutions will place the group in a strong position to benefit from this growing demand and the business opportunities it will create. We look forward to working with John and the TXP team in the next phase of the business’s development.”