Kerv Acquires Financial Services, Banking Consultancy From TDS
Cloud and digital transformation services provider Kerv has acquired the Communications Compliance Practice business from TDS Global Holdings. Financial terms of the deal were not disclosed.
This is technology M&A deal number 629 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Kerv, founded in 2020, is based in London, England. The company has 116 employees listed on LinkedIn. Kerv’s areas of expertise include unified communications, voice, data, mobility, compliance, cloud services, digital workspaces, IT managed services, digital transformation, Microsoft Dynamics, Power Platform Plus, SD-WAN, managed networks and network security, among others.
TDS, founded in 2011, is based in London, England. The company has 40 employees based in Europe, Asia and North America. TDS’s areas of expertise include IT lifecycle management, application services, HR and accounting, and staffing and consulting.
The acquisition will take the total Kerv business to over £60 million (US$71.4 million) turnover and more than 500 staff. The acquired entity will rebrand as Kerv Communications Compliance Practice with hopes to serve the UK’s Tier 1 banking and financial services sector, the company said.
The existing leadership of the Communications Compliance Practice, including CEO Brad Gorton and head of strategy Paul Wilson, will join Kerv in senior roles, according to the company. Kerv said it plans to retain all staff in the practice and will continue to invest in the business to build on its growth trajectory and global presence.
Kerv Acquires Communications Compliance Practice: Leadership Insight
Alastair Mills, executive chair, Kerv, commented:
“Across all Kerv’s practices we have a strong focus on helping our customers transform their business by migrating to and then transforming in the cloud. As we approach our second anniversary, this acquisition is another significant milestone in the development of the group. With the compliance world relatively slow to migrate to the cloud compared to other sectors, this is a transformation that is now happening at pace and Kerv is well placed to capitalise on this significant market trend.”
Brad Gorton, managing director of the new Kerv Communications Compliance Practice, added:
“We’re so excited to be joining the team at Kerv for the next stage of our journey. The opportunity to build on our global cloud capabilities, to extend our digital services and to accelerate investment in our automation, monitoring and proprietary technology by leveraging Kerv’s capabilities is fantastic for us and our customers. Bringing the rest of the Kerv group’s portfolio to our customers and providing our compliance expertise to the Kerv client base will help us accelerate our own growth even further.”
Kerv was founded in 2020 when three UK-based managed services providers merged in a US$38.6 million deal funded by private equity firm LDC.
The founding companies were DoubleEdge Professional Services, Foehn, and Metaphor IT.
The group was brought together by founder and former CEO of UK managed cloud services provider Six Degrees Group Alastair Mills, along with Six Degrees’ former COO Mike Ing. Six Degrees was responsible for a similar deal in 2018, acquiring cloud-centric MSP CNS Group.