Managed services VAR The Internet Group (TIG) has launched its subsidiary BuymyIT.biz, aimed at reaching IT service providers that are feeling the pinch.

As reported by CRN in April, the venture is aimed at struggling managed service providers that wish to start the ball rolling on their exit strategies.

Since 2000, TIG has acquired five companies and wants to target IT service providers in the SME space through further acquisition and partnership opportunities.

Adam Maurice, commercial director of TIG, said: “Acquisition has always been a key factor in our growth strategy and based on our previous experiences, we feel that now is the right time to approach other IT service providers to allow them to cash-in on deals that they structured with their clients during the boom times.

“We have already written individually to over 500 companies in order to start a dialogue with a view to discuss potential acquisitions and have seen an incredibly positive response.”

BuymyIT.biz has already created a website to demonstrate how the process can start with a phone call and end up with the current shareholders of the business receiving cleared funds.