Microsoft Gold partners merge to create £30m-revenue MSP

Acora has snapped up London-based Plan-Net

IT service specialist Acora has merged with London-based counterpart Plan-Net to form a group that has revenues approaching £30m.

West Sussex-based Acora - ranked 195 in CRN's Top 300 VARs - reported revenue of £15.9m for its year ending 31 October 2018, while turnover for Plan-Net was £10.6m for the 12 months ending 31 December 2018, according to Companies House.

Acora stated that 70 per cent of the combined group's revenue comes from long-term recurring contracts. Both companies count Microsoft, Citrix and VMware among their vendor partners.

The expanded group's headcount is 300, and it will deliver services from four service operations centres across the UK, providing all-hour support to over 250 clients.

"Plan-Net has impressed us enormously in terms of its business model, the service levels it achieves with its loyal customer base and the way it aligns with our core offerings," said David Rabson, Acora's CEO.

"The quality of the team was also key in our decision to bring the two companies together - great customers and great people, a winning formula. We see this as a merger with equal value for all stakeholders. It is transformational for the combined teams and the customers of Plan-Net and Acora alike."

Adrian Polley, technical services director at Plan-Net, will join the Acora board as MD of the Plan-Net business. Operations director Jerry Cave will remain as an adviser to the board.

Polley stated: "Having worked alongside Acora previously, it was clear that the benefit for our customers and staff in bringing our offerings together provided an exciting opportunity for everyone.

"The combined proposition is incredibly strong, and we can see the merged group being dominant in the mid-market as we scale further and benefit from the growth opportunities."

Financial details of the deal were not disclosed.