MSP Acquisition: Timico Buys Microsoft Partner 25sevenIT
The deal is part of Timico’s strategy to become “the UK’s leading independent ICT Managed and Cloud Services company,” the firm said.
Exact financial terms were not disclosed. However Timico said the “multi-million-pound investment” will provide new opportunities for its customers. The company’s focus includes end-to-end solutions across network connectivity, ICT managed services, digital workplace, security, and cloud services.
London-based 25sevenIT has expertise in the hospitality sector, along with consulting and cloud experience. “We believe that technology should be an investment that delivers a significant return to the bottom line of a business, and we are delighted that we are being acquired by a company whose objectives and priorities align with ours,” said Mark Hanson, managing director, 25sevenIT.
The acquisition follows news from Timico that it appointed a new CEO, Neil Muller, and a new COO, John Holt.
M&A activity involving MSPs across the United Kingdom remains strong. Among the deals we’ve tracked:
- London, England-based services company Roc Technologies acquired Esteem Systems.
- AdEPT acquired Shift F7 Group, essentially uniting two managed IT services providers (MSPs) in the United Kingdom.
- Peach Technologies acquired Taylor Made Computer Solutions (TMCS), creating one of the United Kingdom’s largest independent managed IT services providers (MSPs).
- Diversified of New Jersey acquired Digitavia — a United Kingdom-based provider of standardized AV (audio-visual) solutions and support services.
- Chess Ltd. acquired Foursys, a 10-year Sophos cybersecurity partner. The deal added more than £11m to Chess’s turnover, bringing it to £120m.
- CMI acquired Solsis Ltd., an MSP that supports about 2,500 end-users around the south of England, including London.
- Ensono acquired Attenda, a UK-based MSP.