Mergers and Acquistions News
Categories: IT Services & Consulting
December 3rd 2009, 16:59PM
IT services and solutions provider 365 iT has announced that it has acquired Liverpool-based computer hosting specialist 7global Group from LMS Capital.
The acquisition deal is expected to enhance 365 iT's capabilities in the IT managed services sector, as well as strengthening the firm's business relationships with major IT providers such as Microsoft, Cisco and Citrix.
Additionally, as part of the acquisition, LMS Capital has taken a 12.5 per cent equity interest in 365 iT, while 7global will continue to operate under its brand name and all executives and employees will be retained.
"The combined focus of the enlarged 365 iT Group will enable us to further develop our strategy of rapidly expanding our revenue and market share," commented Peter MacLean, chairman and chief executive of 365 iT.
In March this year, 365 iT announced a partnership with Creating Security Solutions to develop radio frequency identification solutions using cutting-edge technology.
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