Redcentric completes acquisitions of Sunguard assets for £10m

The MSP announced the plans last month

Redcentric has completed its acquisition of assets from Sungard Availability Services, after the UK arm of the business reportedly went into administration earlier this year.

The MSP announced last month its plans to acquire the operations and assets relating to three Sungard datacentres [DCs], with the move being finalised on July 7.

The deal also includes the provision of other colocation and network services from Sungard Availability Services, Redcentric said.

An initial consideration of £10.12m has been paid in cash, with further consideration being payable in cash pursuant to performance criteria which expire 12 months following completion.

Redcentric also confirmed it has completed the acquisition of the entire issued share capital of 4D Data Centres Limited for a total cash consideration of £10m.

"Due to the nature of the transaction and the assets acquired, further details in relation to the Sungard acquisition, including financial information, together with further details of the 4D Acquisition, will be provided in due course," the MSP said in a statement.

Speaking last month, Peter Brotherton, CEO of Redcentric, said the acquisitions are in line with its strategy.

He said: "The Sungard DCs principally provide colocation and cloud services which complement the Redcentric offering perfectly. In addition, the Sungard DCs come with a superb blue chip customer base and should the acquisitions complete, they provide Redcentric with an exciting opportunity to accelerate its growth."

Sungard's UK business entered into administration at the end of March, according to a report from Sky News, with Teneo Restructuring called in to attempt to secure its future.

Counting the NHS, Home Office and Npower among its customers, Sungard's EMEA head office is in Heathrow. The firm runs datacentre and workplace recovery centres across the UK and employs around 300 staff globally.