Crimsonwing is an IT Services Company based in Malta with subsidiaries in the UK and the Netherlands. The Company started operating in 1996 under the name of Magnus International. Magnus International was based in the UK. It used to outsource IT Services using Indian Subcontractors. In 1997 it moved its base to Malta and changed its model to a near shore production. In 2000 it changed its name to Crimsonwing.
The Company offers an array of IT solutions to its clietns in the form of:
Microsoft Dynamics packages offering ERP and GRM solutions. ERP application packages handle business functions such as fiannce, order management, inventory, warehouse operations and logistics. CRM solutions support the operation of sales force management, customer information management, support and sales desk operations and enterprise wide communication
Custom Developement, a tailor made solution using bespoke software to create a unuique package for its clients
E-Business, consisting of the creation and maintenance of webites. Management are excited by the opportunites in this line of business and the potential growth this business offers
Crimsonwing prides itself in being a Microsoft Gold Certified Partner. Being a Gold Certified Partner means having the highest level of competence and expertise with Microsoft technologies and having the closest working relationship with Microsoft.
The Company is licensed to offer 'Microsoft Dynamics' packages to its customers (ERP and CRM), providing them with state of the art solutions for all their business needs. The daily rate charged for Dynamics work by the Company's peers is significantly greater than traditional Crimsonwing Services (typically>Eur1000 per day). The Company manages to offer its services at a cheaper price due to its low cost base. Most of the revenue of the Company is generated in the UK though all the work is carried out in Malta.
The Crimsonwing model is based on near shore production. This allows the Company to provide its customers with the same services offered by its peers at a lower cost. Malta not only provides the Company with a workforce who are as competent as foreign professionals but also provides a culture and language which is similar to that of the British, where most of the company's revenue is generated.
In order to increase growth in areas of ERP and CRM solutinos, Crimsonwing purchased Peracto (UK) and Promentum (BV) in 2007. The UK is where the Company generates the largest portion of revenue. Peracto will help contribute towards maintaining and increasing revenues from the UK. Conversely, Promentum increased the Company's exposure in Germany, Austria and Switzerland (the DACH market) through Promentum's subsidiary; Promentum Austria GmbH (2007).
The said acquisition also includes Promentum Acedemy BV which gives the Group a training facility specialising in Microsoft Dynamics and providing services globally. Promentum opened up an Academy in the USA (2007).
On the 11th June 2008, the Company entered into a share purchase agreement to takeover VDA, an IT company based in the Netherlands for EUR1.9m.
Major Shareholders
David Walsh 50.04%
Philip Crawford 24.01%
Subsidiaries
Chairman Philip Crawford
Chief Executive Officer David Walsh
Company Secretary Dr Louis de Gabriele LL.D
Year End 31st December