Cancom has returned to the UK market by acquiring London-based unified communications MSP Ocean Intelligent Communications.
The Munich-based reseller, which expects to turn over €1.16bn (£1.02bn) in 2017, has bought an 82.1 per cent stake in the company, an apparent departure from CEO Klaus Weinmann's usual method of acquiring companies outright.
Primarily a Cisco partner, Ocean will strengthen Cancom's position in cloud and managed services as well as UCC, it claims.
Ocean's founder and several members of the management will retain a minority stake in the company.
The move marks a return to the UK market for Cancom. The German VAR used to have a UK presence as an Apple Premium Reseller, but sold off its business to Dorset-based reseller Trams in 2012.
Since then, Cancom has maintained an appetite for M&A, but has limited its scope to its German homeland, having acquired Hamburg-based VAR Antauris and managed services outfit Synaix last year.
Cancom is already examining synergies and cross-selling potential with Ocean, both in existing markets as well as new European regions, according to Cancom's general manager Thomas Volk.
"Cancom and Ocean's products and solutions are a perfect match. We will accelerate the cloud and managed services business and build existing customer relationships internationally, and Ocean will benefit from Cancom's customer base and leverage our technology and service capabilities. Together with Ocean, we will reach the next milestone in the expansion of our business," he said, translated from the original German.
Wayne Lloyd, CEO of Ocean, said: "We at Ocean are very happy to become part of the Cancom Group, which will enable us to better serve our large international customers and accelerate our growth, as Cancom's unique cloud technology platform AHP will be a significant asset and a unique selling proposition for us. The management team is highly motivated to continue Ocean's development as part of the Cancom Group and to be actively involved in its future success."
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