Managed services provider eacs has been appointed to provide managed services and technical support to the Development Bank of Wales Group, one of the UK's largest SME investment companies. eacs won the minimum five-year contract following a 12-month competitive tender process. The financial terms of the contract were not disclosed. Beginning in November 2021, eacs will provide a comprehensive range of managed services. The Development Bank of Wales Group also plans to transform its IT operations and move to a cloud-based system over the next one to two years. eacs will advise on and deliver this transformation process.
Larry McGeary, ICT Director at the Development Bank of Wales said, "We have wide-ranging plans to transform our IT systems so that we can continue delivering the best possible service to businesses across Wales and the north of England. eacs showed us that it has the scale and expertise to be a strategic partner who can fully deliver our current existing IT requirements: while also supporting our ambitious digital transformation."
Kevin Timms, CEO, eacs added, "everyone at eacs is delighted to welcome the Development Bank of Wales as a new client. The business does really important work providing support and investment to the UK's micro to medium business in Wales and across the north of England. Our focus here at eacs is to work closely with the in-house team to deliver reliable, trusted, and effective managed services: implement innovative new features and solutions: and advise on the Group's important digital transformation plans for the future."
The Development Bank of Wales Group is comprised of the Development Bank of Wales plc and several subsidiary companies, including FW Capital, a commercial fund manager based in the north of England. The Development Bank of Wales is owned by the Welsh Government and manages a range of public and private funds totalling over £1 billion. In 2020/21, the Development Bank invested almost £200 million in UK small and medium-sized businesses, £92 million of which was in loan support for businesses impacted by COVID-19.
The Group employs 275 staff and is headquartered in Wrexham, with offices in Cardiff, Manchester, Liverpool, and Newcastle.