UK cloud and managed services provider Core Technology Systems has announced the acquisition of Scottish-based MSP CompanyNet.
As a leading Microsoft Gold Partner, CompanyNet specialises in providing Microsoft 365 and Azure delivery and support for organisations around the UK.
For Core, the acquisition marks a geographical expansion into Scotland for the business and adds CompanyNet’s 25 employees and offices in Edinburgh and Glasgow to its ranks. Both businesses will continue to operate under their established brands, however.
In an announcement, Core said the takeover will result in greater value and additional service and project delivery capabilities for customers of both companies.
“We are focused on developing capability and excellent levels of service for our customers, and this acquisition means greater capability and additional resources,” commented Core CEO Connor Callanan.
“We have developed long-lasting relationships with our customers and partners because they trust in our delivery of service excellence, and this expansion provides opportunity for us to add more value to our existing and new customers.”
CompanyNet CEO Andy Hamilton said Core was a natural fit for its business strategy, thanks to its broad expertise and experience.
“We are pleased to confirm Core as our partner of choice, demonstrating the experience, values and expertise that ensures our business remains in excellent hands,” he said.
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“As well as fitting with the broader CompanyNet strategy, we are delighted to have culture and values that align, and we are confident this agreement represents the best interests of CompanyNet employees, customers, and partners, providing great opportunities for both parties.”
The acquisition was completed with a funding package from business lender ThinCats, with support from Danescor, an M&A platform for mid-market transactions in the tech industry.
“We are thrilled to have supported Core with this acquisition,” commented Stuart Thompson, Head of Transitional Capital at ThinCats. “CompanyNet is a perfect fit and will enable the business to expand its proposition and reach even more customers across the UK.”
