2e2 closes Netstore buy-out

Integrator targets £50m revenue spike and increased SaaS expertise

After closing its acquisition of security specialist Netstore, integrator 2e2 has claimed it now boasts a formidable consultancy practice.

Completion of the £57m buy-out, 2e2's biggest acquisition to date, was announced today. The Berkshire-based integrator claimed it would benefit from Netstore's application hosting expertise and its two data centres, situated in Reading and the North East.

2e2 indicated the deal would bolster its revenue by about £50m and would also add 200 staff. The VAR also claimed it would now enjoy a strengthened application management and software as a service (SaaS) offering.

2e2 chief executive Terry Burt said: "We are delighted to announce this acquisition which brings together two strong and established names in the IT services industry to create an enhanced platform for the continued growth of 2e2. This acquisition delivers an exceptional opportunity for us to engage more broadly with our customers and adds further momentum to 2e2 as a major force in the UK market.

"Our perfectly positioned SaaS, consulting and managed service offerings allow 2e2 to deliver greater business efficiencies and cost savings to an expanded customer base. We look forward to welcoming the employees and customers of Netstore into the 2e2 Group.”

Graham Kingsmill, chief executive of Netstore, “This acquisition makes perfect sense for both Netstore and 2e2 customers. We now have a powerful, complementary service offering ranging from the delivery of IT platforms to best of breed software application expertise. All provided in the most efficient, scalable and flexible way possible."