Wed, 01 Oct 2014 | ADMINISTRATION
Tech managed services business, ITS Technology Group (ITS) has snapped up the assets of Networks by Wireless, which entered administration in September, for an undisclosed sum.
The deal will give ITS attractive contracts with public sector businesses including Aberdeen Council, Vale of Glamorgan Council, the Countess of Chester Hospital and Bedfordshire Police, and boost its revenues to £5 million.
ITS plans to keep on at least eight staff of Networks by Wireless’ 25-strong workforce, but the Runcorn-based buyer is, as yet, undecided as to whether to keep an office in Sheffield.
This is the second acquisition ITS has made in five months, having bought wireless broadband provider CityServe back in June. ITS’s expansion plans have seen it beef up its management team and win large contracts alongside the acquisitions it has made over the past year.
On its purchase of Networks by Wireless, Roy Shelton, ITS’s CEO, said: “This acquisition will not only enhance our value proposition by providing an even richer end-to-end solution across fixed and wireless broadband networks in urban and hard to reach areas but will also build on our managed services capabilities.”
The deal also adds to its network assets. “We now own the Digital Dales in Teesside, County Durham,” he added, “which delivers wireless broadband to the area’s hard to reach rural locations.”
ITS Technology Group, based in Runcorn, Cheshire, already has offices in London, Nottingham, Redcar and Glasgow, and recently entered the overseas market by setting up an office in Vancouver, Canada.
_________________________________________________________________
Related information:
Businesses in administration
How to profit from buying distressed businesses
Opportunity to acquire a high performing business and long leasehold property operating in the dental and medical sector within London. Offers by: 6 December 2024.
Opportunity to acquire the business and assets of a beverage retailer with stores across England. Offers by: 2 December 2024.
Opportunity to acquire a privately owned Company founded over 40 years ago, operating as one of the leading developers of exceptional residential homes in prime areas of London and Southern England. Offers by 5 December 2024.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.