The combination of the contribution from acquisitions, a leaner cost base, and positive industry drivers all underpinned this stellar performance and one that vindicates my decision to initiate coverage when the share price was 75.5p ('Switch onto the Stadium of light', 30 July 2014). I last advised running profits when they were around the current level a few months ago ('Small cap tech wonders', 19 January 2015).
A key take for me has been the acquisition last summer in a £8m deal (including earn-outs) of United Wireless, a specialist in the design and manufacture of electronics for the machine-to-machine (M2M) wireless sector. United's technology supports wireless connectivity between devices, primarily cellular networks, and acts as a specialised wireless integrator for Original Equipment Manufacturers (OEMs). United has a strong customer presence in the automotive and telematics sectors, and also works with OEMs in the areas of 'infotainment' and vending, industrial equipment and asset tracking.