Modern Networks announces double acquisition of ISP and MSP

Acquisitions will boost Modern Networks' headcount to more than 150 while expanding its portfolio of services

IT and telecoms MSP Modern Networks has bolstered its commercial property and midmarket offering with the acquisition of two firms.

The Hitchin-based business has acquired fibre internet and telecoms services provider Bridge Fibre, as well as MSP Response IT which it says will boost its headcount to more than 150.

"Joining forces with Bridge Fibre and Response IT provides Modern Networks with additional breadth and capability across our key service lines," Modern Networks founder and CEO Matt Reeve said.

Modern Networks says the move to bring Bridge Fibre, which works with landlords and multi-tenanted commercial properties, into the business is a "significant step" in the fulfilment of its long-term vision "to become the biggest provider of consolidated IT and telecommunications services to specific verticals such as the property management sector".

It adds that the purchase will expand its "service portfolio" and "strengthen" its ISP proposition.

And Response IT will allow Modern Networks to expand its "technical expertise", "capacity in the south east and London" and "all aspects of customer service", it claims, by providing a complementary range of IT services to the business.

The combined business has a turnover in excess of £20m, with employees operating from Hitchin, Manchester, Cambridge and Guildford.

Modern Networks is backed by private equity firm Horizon Capital, which acquired a majority stake in the business back in April, and managing partner Simon Hitchcock said: "We are delighted to support the Modern Networks team in completing the first two of a planned series of acquisitions as we scale the business and extend its capabilities.

"Bridge Fibre and Response IT are high quality operations that bring new expertise to this growing business."