CSI expands into US with acquisition of £30m-revenue IBM partner

Cloud partners says move will bolster its backup and disaster recovery capabilities

Cloud provider CSI has acquired £30m-sales IBM partner Tectrade in a move which takes it into the US market.

Tectrade specialises in backup and disaster recovery, and also counts NetApp, Dell EMC, Microsoft and HPE among its vendors.

Simon Payne, CEO at CSI Group, said the acquisition of Tectrade bolsters its data protection credentials.

"Tectrade is a strong and strategic acquisition for us, providing additional depth of expertise in data protection which will deliver significant benefit to our clients," he said.

"It also offers us the exciting prospect of expanding our services into the US, which I'm delighted to announce Alex Fagioli, CEO of Tectrade will head up.

"CSI is committed to helping companies move their critical business applications and data to the cloud, and the investment we are making in Tectrade will extend our ability in this arena. The company has a strong cultural fit with us and its portfolio complements ours, which means together we will bring an even stronger offering to the market."

CSI reported sales of £44.8m in 2018, while Tectrade's revenue for the year ending 31 March 2019 was £31.2m.

Tectrade's Fagioli said: "I'm excited to be joining CSI Group and for everyone in Tectrade to be part of a larger organisation with a clear and ambitious growth strategy."

CSI also acquired £15m VAR Niu Solutions in 2018.