Ambitious VAR 365 iT has taken a major step forward in its managed services plans with its acquisition of hosting and services specialist 7 Global Group.
Liverpool-based 7 Global Group, was owned by private equity firm LMS Capital, which as a result of the deal this week has taken a 12.5 per cent equity interest in 365 iT.
Eddy Alejos, managing director of the infrastructure division at 365 iT, told CRN: “We have been experimenting with a managed services offering since May, but after we consolidated all our offerings under one name this year we realised that starting a managed services business from scratch would take a long time. It made sense to do it by acquiring someone that was already an expert in that field.”
Alejos said 7 Global will operate as a fully owned division of 365 iT with immediate effect, but will eventually be “folded into the same banner”.
“The acquisition gives us a good geographical spread as well, because 7 Global is based in Liverpool and Harrogate,” he added.
He also said 365 iT had not finished its shopping spree and would be on the lookout for more acquisitions next year.
“We are a pretty ambitious group,” he said. “We have done two acquisitions this year and hopefully there will be some pretty reasonable offers next year. We have the confidence of our investors and all the management in place has a comprehensive track record in mergers and acquisitions.”
Alejos said there could be some interesting pickings next year.
“There are a lot of firms hanging by their nails at the moment and I think there will be a washout in January with a reality check.”
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