Chess move takes Parachute IT

Acquisitive Alderley Edge provider makes another buy

Comms provider Chess has acquired Hertfordshire's Parachute IT for an undisclosed sum.

According to reports, cloud and support services provider Parachute IT has revenues of £2.2m and 17 staff, which should make Chess's turnover tip £72m a year.

The Chess group, with a current headcount of about 400, has been steadily acquiring a range of related UK firms in recent years -- it is believed to have bought more than 80 companies since 2001.

Martin Bacon, managing director of Parachute IT, was reported by BusinessDesk.com as saying: "When Chess approached us I saw a great opportunity with a company intensely focused on quality and spirit, strategically driven, financially powered and with a highly evolved approach to creating robust success with acquisitions."

Parachute IT is a 20 year old firm headquartered in Borehamwood that has targeted legal, financial, recruitment, hospitality, property, and public sector services with bespoke managed services.