MSP Acquired: Xperience Buys Cisco, Microsoft Partner Riverlite
Northern Ireland IT firm Xperience has acquired Riverlite — a Cisco Systems, Microsoft and Veeam partner that has MSP, cloud and cybersecurity expertise. Financial terms of the deal were not disclosed.
This is technology M&A deal number 238 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.
Xperience Gains Geographic Reach, Expertise
This particular acquisition is strategic — both geographically and for service/sector expertise, the buyer said.
Riverlight, founded in 2008, is headquartered in the East of England. The MSP provides cloud, cybersecurity and IT managed services. The acquisition will grow Xperience’s headcount to 150. Annual turnover will increase to approximately £21.5 million (roughly US$28.2 million) and will support over 1150 clients across the UK and Ireland according to Xperience.
Xperience has M&A experience. An earlier deal involved buying Green Duck in October 2021.
Xperience Acquires Riverlite: Executive Insight
In a prepared statement about the deal, Iain O’Kane, CEO, Xperience commented:
“Growth across the UK remains a strategic priority, and Riverlite is a natural fit as we share a similar culture and values. Importantly, it achieves a leading presence in the East of England and strengthens our existing team nationally. It also provides another Cyber Security and data platform, which given the events of last year and continued global threats is a genuine benefit for our clients. For this and many more reasons we welcome bringing Riverlite into the Xperience family.”
Added Paul Oggelsby, CEO of Riverlite:
“Scale is increasingly important in the IT space. This is not just because of the pace of technical change, but also due to changing working practices such as hybrid working. Clients are also having to find solutions to global threats such as Cyber Security. Over time, Riverlite will trade under the Xperience brand and as part of Xperience, our clients will continue to benefit from the services of Riverlite, and also have access to a broader range of resources and support locally and across the UK.”