Cyber security services firm Aspire Technology Solutions is to acquire Cloud Cover IT, a managed service provider based in Glasgow.
Aspire, which specializes in cloud, connectivity, and IT support, says the deal forms part of its plans to expand into new UK regions and widen its technology portfolio.
Cloud Cover IT will become a part of the Aspire group and its software development and business applications division will be rebranded as 'Flyte'.
"Our acquisition of Cloud Cover IT marks a new and exciting chapter for both companies. This move will strengthen our presence in Scotland, positioning us in a thriving market," said Chris Fraser, CEO and founder of Aspire.
"The Cloud Cover team will become an integral part of the Aspire group, and together, we believe we can grow significantly in this key strategic market."
Founded in 2006, Aspire now has around 250 staff and more than 1,700 customers, with offices in Gateshead, London, Leeds, and Teesside.
It provides a broad range of technology solutions across a range of applications including cloud, connectivity, voice, technical support, and cyber security, with a full fiber network providing bandwidth speeds of up to 100 gigabits per second.
Since March 2022, it's been backed by private equity form LDC, which took a significant minority investment in a transaction that valued the business at £85 million. LDC is now helping the management team to pursue an ambitious growth strategy based on both organic growth and acquisitions, with the aim of expanding its UK footprint and suite of services.
There are also plans to create 150 new jobs across the North East at Aspire's recently-opened HQ at Gateshead Quays, as well as at its new base at Fusion Hive, a business and innovation center at Stockton’s Northshore.
The new Flyte division specializes in Microsoft 365, and will offer a suite of business applications designed to streamline workflows, boost productivity and foster collaboration.
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It provides digital transformation consultancy services, Microsoft stack development expertise and support, with customers including Loganair, Made Brave, the Richmond Fellowship and Gael Force Group.
"Multiple factors drew us to Aspire; they are an outstanding company. The alignment between our organizations and how we complement each other is evident. We share similar values in our approach towards our people, customers, and objectives," said Lance Gauld, founder and MD at Cloud Cover IT.
"This partnership is not merely a merger with a large IT company; it is a collaboration with a leading UK technology provider that understands us.
As part of the Aspire group, we can grow our footprint further and broaden our offerings with access to more expertise, resources and an extensive portfolio of solutions to help our customers drive their businesses forward."
