Red Alert: Redsquid bites into RedMosquito
This marks the MSP’s fifth acquisition in 12 months
Hertfordshire-based MSP Redsquid has acquired RedMosquito to grow its market reach across the UK.
The Glaswegian MSP, which was launched in 1999, provides companies with managed services, as well as cybersecurity, cloud, and telecoms solutions.
This purchase brings 20 new members to Redsquid’s team, growing its headcount in Scotland to over 40 people, and provides the firm with a new office presence.
“I am very pleased to continue our investment in Scotland, and grow the Redsquid community across the wider UK,” said Sohin Raithatha, CEO of Redsquid.
“The team that RedMosquito brings will add immense value to the Scottish team which immediately will be shared with the wider customer base.
“Redsquid and RedMosquito seems a match made in heaven - we are ready to make a real difference in Scotland.”
Neil Rowney, co-founder of RedMosquito, added: “In Redsquid, we’ve finally found a like-minded organisation that shares our ethos and values, and which is perfectly placed to continue the RedMosquito success story.
“We’re especially pleased that our valued customer base built up over the last 26 years has found a safe new home and will now benefit from enhanced resources and services under Redsquid’s stewardship, ensuring their continued success and support.”
This marks the company's fifth buyout in the last 12 months, and its third in Scotland, following its acquisition of Aberdeen-based firm IT Hotdesk in November last year, which marked its entry into the Scottish market.
The acquisitive MSP also snapped up Fife-based business Itek Systems Management in April.
The same month Redsquid led a double purchase in England with the takeovers of Surrey-based telecommunicates company Penstone Communications, as well as MSP Computer Security Technology (CST) in the City of London.
Raithatha, alongside co-founder Vince Mignacca, remain as the only shareholders of Redsquid.
The deal was reportedly supported with advice from Altenburg Advisory.
It was also supported by ThinCats, an alternative finance provider with which the MSP has partnered since November last year.