This is an interesting review from Icon Corporate Finance of Q2 M&A activity and mentions 365iT as being on the acquisition trail which it is for selected companies that fit the portfolio, such as the acquisition of 5i earlier this year and the very recent acquisition of 7 global.
http://www.iconcorpfin.co.uk/NewsEvents/M&ATechnologyReviewQ22009.pdf
The news that 365iT has acquired IT Fully Managed Services company 7 Global this month along with 5i earlier in the year is a Christmas present to all those involved with 365iT, in my opinion!
Since Peter ( Howells ) and I were at Voyager Networks where we had a national IP network to complement our data networking and Internet skills and expertise we have long harboured the desire for 5i to work closely with a forward thinking Managed Services and Hosted Communications provider.
The areas of ICT that 365iT covers include IT operations and management,IT Managed Services, Unified Communications, Business Continuity, Data Backup, IT Security, Virtualisation, Networks, Storage Solutions and Infrastructure Solutions.
These are some of the hottest areas in the ICT world at the moment and for the near future. They encompass other hot sectors like ” Cloud Computing ” and ” Software as a Service “.
One of the great attractions to 5i of being involved with 365iT and Peter MacLean was his experience of putting together powerful, advanced communications companies. Don’t forget, he is doing this in one of the most difficult economic periods of our lifetime.
Where there’s a will there’s a way and now LMS Capital is also an investor in 365iT.
The story unfolds …….
365 iT plc has acquired the IT managed services and computer hosting specialist 7 Global Group Ltd (7global) from LSE Listed ,LMS Capital plc and LMS have taken a 12.5% equity interest in 365 iT.
7global, based in Liverpool, was originally formed in 1999 and has
developed a portfolio of fully managed IT services specifically aimed at
software vendors and end user organisations that wish to take advantage of Software as a
Service (Saas). The acquisition strategically enhances 365 iT’s capabilities in the fast evolving IT
managed services sector. It also strengthens 365 iT’s business relationships with key global IT
providers which include Microsoft, Cisco and Citrix.
“This acquisition is an excellent fit for 365 iT” said Peter MacLean,
chairman and chief executive. “It strengthens our strategic position
within the IT managed services sector, whilst also extending our product
portfolio, our client base and our geographical presence. The combined
focus of the enlarged 365 iT Group will enable us to further develop our
strategy of rapidly expanding our revenue and market share.”
MacLean concluded; “The Group’s capabilities are further enhanced by
the substantial technical talent and strong customer support attitude
that is prevalent at 7global.”
“We remain positive about 7global’s prospects as a leading Saas
infrastructure provider in the UK. 365 iT is well positioned to accelerate 7global’s growth,
thanks to its scale and complementary service offering. Therefore we are delighted to become
a shareholder in 365 iT in order to share in the profitable growth of the combined business”
said Pieter Hooft, MD UK Investments LMS Capital plc.
“This acquisition is an important development for all our customers and employees” said Chris
Bithell, Managing Director of 7global. “I am personally very excited about the opportunities
the future holds for us and am very confident that 7global will play a major role in the
development of 365 iT.”
Notes to the Editor
1. 365 iT plc was founded in 2005 and now employs over 85 people. Through its wholly owned
subsidiaries (365 iTechnology Ltd, 5i Ltd and 7 Global Group Ltd), the Group provides an
extensive range of IT services and solutions that address the nine strategic functional areas in
IT operations and management: IT Managed Services, Unified Communications, Business
Continuity, Data Backup, IT Security, Virtualisation, Networks, Storage Solutions and
Infrastructure Solutions.
2. 7global will continue to operate under its brand and name and will trade as a wholly owned
subsidiary of 365 iT plc. All 7global’s executives and employees will remain with the enlarged
365 iT group. 7global provides a range of support services and IT managed services including
hosted Microsoft Dynamics CRM, software and server hosting and Software as a Service (Saas)
delivery from its data centres including its ISO 27001 registered data centre located in the
former bullion vaults of the Bank of England in Liverpool.
3. LMS Capital plc is an international investment company whose shares are listed on the
London Stock Exchange. The investment portfolio comprises investments in both the US and
UK, with a spread of early stage and second round technology investments, development
capital and mature company buy-outs.
Enquiries:
Stephen Bean
Marketing-Alliance,
Tel: +44 (0) 7747 100000
www.365iTechnology.com
www.7global.com
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