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Comments Off on Cloud Direct Snaps Up Communications Business

Cloud Direct Snaps Up Communications Business

Posted by Admin | January 31, 2017 | Telecoms

Bath-headquartered IT services company Cloud Direct has acquired a £5.5m-turnover communications provider from its private equity and management owners.

AlwaysON Group (AOG) based in Bracknell, provides unified communications (UC), data communication and managed data services to UK headquartered organisations, primarily mid-sized enterprises.

It was bought from private equity firms Foresight Group and Mobeus Equity Partners, together with management and a group of private investors.

Brett Raynes, chief executive of Cloud Direct, said: “Since 2003, we’ve been helping organisations grow by migrating them to the cloud – quickly and securely. Moving forward, AOG’s capabilities will be critical to that as we drive better business continuity, people productivity and infrastructure.

“Their people and customers are a great asset to our business at this exciting time of high growth. We’ll slowly integrate the business into the Cloud Direct clan as we continue to support organic growth with an ambitious acquisition strategy.”

Martin Peck, executive chairman of AOG, added: “We are delighted to have sold AlwaysON to Cloud Direct. 

“The current investors built AOG up by merging two complimentary IT services business, and having completed this process, the time was right for a new owner to take the business forward.”

The Technology team at Transcend Corporate, led by partner Steve Bartlett, acted as lead advisers to the shareholders of AOG.

The purchase price was not disclosed.

Source: insidermedia

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