Morse shareholders have approved the proposed acquisition of the company by 2e2 after a court meeting and general meeting of eligible shareholders earlier today.
The £70m deal was first revealed last month after months of speculation.
According to a statement made to the London Stock Exchange: “Morse Shareholders voted to approve, by the necessary majorities, the scheme of arrangement under Part 26 of Companies Act 2006 and other associated matters to implement the Acquisition.”
The statement revealed that 90.5 per cent of shareholders approved the deal, with 9.5 per cent against the deal.
Speaking to CRN, Morse chief executive Mike Phillips, explained the firms now had to go through another court-approved process which is scheduled for completion on 24 June.
“At that point we will become part of the 2e2 Group,” he said.
He added that the two firms’ merger has been received well by Morse’s vendor partners and customers.
“[feedback] is very positive in terms of the range of complementary services from the combined group," Phillips said. "There are areas of managed services, unified communications and helpdesk support that we don’t have that we will now be able to offer customers, and from 2e2’s point of view they inherit a strong skill set from our employees together with our long-standing customer base.”
Phillips said he has agreed to stay on at the combined company until the end of July and after that will take some holiday and then begin looking for a new role.
Asked whether he will remain in the channel, he said: “I am open minded in terms of what is next.”
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