Mergers and Acquistions News
Categories: IT Services & Consulting
May 17th 2010, 15:44PM
UK-based IT services provider Esteem Systems has announced the acquisition of Midas IT Solutions, paving the way for it to utilise some of the opportunities created by the recent Oracle/Sun Microsystems merger.
The move is designed to offer Esteem's customers a broader range of services across a number of platforms, as well as allowing it to segue into the Oracle market, in which Midas already has an established reputation.
"Mapping Oracle's thinking, we recognise the value of providing one point of contact and unified support across end-to-end solutions and providing business benefits to end-users," commented Joe Connolly, chief executive of Esteem.
The deal is said to be the first of several acquisitions planned by the firm over the course of this year.
In February, Esteem was named as the fastest-growing IT services company in the UK by the Sunday Times Deloitte Buyout Track 100, after seeing annual profit growth of 47 per cent between 2006 and 2008.
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