The managing director of Dundee technology firm Vidatec has completed a management buy-out.
Vidatec specialises in creating digital products for the health and wellbeing, tourism and sustainability sectors.
Among its previous projects is developing the ‘couch to 5k’ app, which has been downloaded millions of times.
The company has been owned by the Insights Group for the past seven years.
Ross Wilson, who has and been Vidatec managing director since last year, has led a buy-out from Insights, which will retain a minority shareholding.
Vidatec management buy-out
Mr Wilson said being independent will allow the business, which has 16 staff, to be more agile.
He said: “Vidatec has had many success stories. We have also developed an app for the NHS to help tackle obesity in children.
“We are also looking to grow in the sustainability space with this sort of habit forming behaviour.
“Since taking over as chief executive I’ve been talking with Insights about what’s best for Vidatec and best for them.
“A lot of the sectors we are targeting are a little different from Insights.
“This is an exciting time as we look to unlock new opportunities for the company’s future growth and to explore the untapped potential outside of, but connected to, The Insights Group structure.”
Vidatec plans to add staff
Vidatec was founded in Stirling as Dogfish Mobile in 2011. Following the multi-million-pound Insights acquisition it rebranded as Vidatec in 2018 and relocated to Dundee in 2021.
Other clients include Value Retail, Heineken, TUI and Insights itself.
Mr Wilson said he would like to double the company’s turnover – which currently sits around £1.8 million – in the next two years.
This will involve increasing the company’s workforce. Vidatec will retain its office within the Insights building at Innovation House in the short-term.
He adds: “We remain committed to our clients and employees and look forward to focussing on our next chapter.
“Our purpose is improving people’s experience of life and making a positive impact on the world through technology.”
Insights Group chief executive Andy Lothian said: “Vidatec has been an important part of The Insights Group for many years.
“We are delighted to support Ross and the Vidatec team during this new chapter.
“With their outstanding proposition and the experience and skills of the team, I know they will continue to deliver valuable and impactful digital solutions and break new ground in this exciting time of digital innovation.”
Conversation