Winxnet making three more acquisitions
Portland-based IT firm Winxnet has increased its revenue by 189% from 2009 to 2013, and with three acquisitions in the works, it could potentially reach $40 million by 2016.
The Portland Press Herald reported the company's revenue grew from $3.7 million in 2009 to $10.7 million in 2013, with revenue projected to reach $15 million by the end of this year, largely attributing the revenue increases to word-of-mouth advertising and organic growth.
After making its first-ever acquisition last month, Winxnet is in the process of acquiring three New England companies, including one based in Maine, Chris Claudio, Winxnet’s CEO, told the newspaper. He said the acquisitions are in different stages of completion and could allow the company to grow more.
Claudio said the acquisitions could double the company’s workforce from 75 to 150 and increase its revenue to $40 million by 2016. He said they are a part of the company’s strategic plan by helping it attract high-level talent, strengthen its service areas and ushering its planned expansion into southern New England.
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