Convergence Group, the Solihull-based telecoms provider for businesses, health authorities and retailers, has acquired Reading-based AIT, a connectivity and security solutions operator, as the business continues its expansion in the UK. The sale price was not disclosed.
The acquisition of AIT will boost Convergence Group’s revenue by 10 per cent and will add 250 new customers to the company’s customer base. This includes customers within higher education, public services and financial sectors, strengthening Convergence Group’s existing portfolio of customers in these areas.
Reading-based AIT provides agile managed services that support enterprise networks, with a focus on wireless, cyber threat detection, and data centre infrastructure.
Danny Masters, Managing Director of Convergence Group, said: “We are delighted to announce the acquisition of AIT today, a likeminded business with a track record of best-in-class service and dedication to its customers.
“The announcement represents our continued commitment to expanding our business offering and driving forward Convergence Group’s growth strategy in the UK.”
Steven Bailey, Managing Director of AIT, said: “We are very excited about joining Convergence Group and the opportunities it provides for our team, our customers and our suppliers to continue our journey together, making networks easier to use and manage and our company a great place to work.”
Today’s announcement follows Convergence Group’s acquisition of Witney-based LAN3 in July and andBury St Edmunds-based LinchPin in September. Convergence Group provides connectivity services to public and private sector organisations across the UK, supporting 800 customers.
Convergence Group runs its own business-only network, which means its customers do not have to compete with residential networks – offering an exclusivity and security that allows for first-class connectivity.
Stuart Williams from James Cowper Kreston who advised the vendors on the transaction, said: “We are delighted to have advised the team at AIT on the transaction and we look forward to watching their continued growth as part of a larger organisation. It was also a pleasure to work with the M&A team at Convergence who took a collaborative approach to completing the deal and we wish them all the best for the future”