Networks First sells up

Convergence Group claims respective channel offerings are 'perfectly complementary'

Networks First has found a buyer in the shape of Convergence Group, a fellow West Midlands-based channel services provider that is twice its size.

Headquartered in Solihull, Convergence Group builds and manages public and private fibre optic data networks, and turned over £24.2m in its last financial year.

It said the addition of Redditch-based Cisco partner Networks First would bolster its network support capabilities.

Both serve the channel partner community, with Networks First having pledged to move away from direct sales entirely in recent years.

Neal Harrison, managing director of Convergence Group, claimed Networks First has a "perfectly complementary range of products and services".

"It means our partners and customers will benefit from more choice and have a simpler way of meeting all their network connectivity needs in one place. We are really looking forward to welcoming their highly skilled team on board."

In its last fiscal year ending 31 March 2015, Networks First saw its revenues bounce 17 per cent to £11.4m, as operating profits rose from £39,000 to £465,000. It said the further investments it had made in sales and marketing activities during the year had begun to earn a return.

Tom Mulvaney, managing director of Networks First, said: "We are very excited that this brings together two successful companies in non-competing but related sectors, with great people under entrepreneurial leadership."