MTI acquired by Ricoh

MTI leadership team to remain in place

MTI Technology has been acquired by Ricoh in a move which the Japanese firm said will bolster its IT capabilities across Europe.

Godalming-based MTI will continue to operate under its own brand as part of the Ricoh's European operation.

Scott Haddow, CEO at MTI, said: "Our mission is to help customers accelerate digital transformation by modernising their IT systems and refining IT operations with security assurance as standard and privacy by design.

"Becoming a Ricoh company means we can take this to the next level."

MTI was traditionally an infrastructure provider but has expanded into the cybersecurity space over recent years.

Speaking to CRN back in April Haddow said that the firm's fiscal 2020 was its most profitable year ever, driven by investment in cybersecurity and the UK public sector.

MTI also has operations in Germany and France - both of which have recently undergone "significant changes in leadership".

Ricoh highlighted MTI's cybersecurity, datacentre and managed services operations as key to the deal, adding that MTI customers will benefit from Ricoh's global reach.

MTI's leadership team will remain in place.

David Mills, CEO of Ricoh Europe, said: "This exciting acquisition enables us to expand our IT services expertise across EMEA and build on our existing competences around datacentre transformation, cyber security and other IT transformation offerings.

"We are acquiring a fast growing and agile IT Services company while inheriting a proven and dynamic leadership team."