Wavenet Group, a Cisco Systems partner backed by private equity firm Macquarie Capital Principal Finance, has acquired OGL Computer Support Holdings and its two subsidiaries – OGL Computer Support Limited and CyberGuard Technologies Limited. Financial terms of the deal were not disclosed.
This is technology M&A deal number 735 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.
IT Services M&A: About the Buyer and Seller
Wavenet, founded in 2000, is based in Solihull, the United Kingdom. The company has 279 employees listed on LinkedIn. Wavenet’s areas of expertise include Hosted VoIP, NGN and IVR, Calls and Lines, Connectivity, Business Broadband, Communications, Business Telecoms, Cloud, Telephony, Business Mobiles, Unified Communications, Ethernet, BroadCloud, SIP Trunking, SIP, Contact Centre, Enterprise, and IT Services.
OGL, founded in YEAR, is based in Worcestershire, the United Kingdom. The company has 269 employees listed on LinkedIn. OGL’s areas of expertise include IT support, Disaster recovery, Cloud computing, IT solutions, Virtualization, Computer networking & cabling, Data backup, Managed IT services, Sales intelligence software, ERP software, cyber security, Data storage & archiving, Cyber Essentials, Vulnerability Testing, Security Awareness Training, Patch Management, Managed SIEM, eCommerce websites, Stock management software, and warehouse management software.
The OGL deal will help Wavenet position itself as one of the UK’s leading IT support and managed service providers, according to the company.
Wavenet Acquires OGL: Executive Perspectives
In a prepared statement about the deal, Adam Joseph, head of private equity for Macquarie Capital Principal Finance Europe, commented:
“We are very excited about today’s transaction as it increases Wavenet’s breadth of products bringing more of what our customers need. Providing next generation cloud services, IT support and cyber security will aid Wavenet’s customers as they continue their digital transformation. Today’s transaction also shows our commitment to help Wavenet’s team with their strong growth trajectory through our flexible capital.”
Bill Dawson, CEO of Wavenet, added:
“It is an extremely exciting time for Wavenet. The acquisition of OGL IT and CyberGuard Technologies brings a wealth of knowledge and experience, enabling the Wavenet Group to broaden its offerings, and enhance the service provided to our customers. We continue to be grateful for Macquarie Capital’s partnership and flexible capital support in enabling this next phase of growth for the Wavenet Group.”
MSP M&A Experience
Wavenet has considerable M&A experience. Indeed, this is Wavenet’s fourth acquisition in the last 15 months.
Macquarie Capital has owned Wavenet since May 2021, though Wavenet’s management team has continued to helm the company.