Northumberland communications firm on cloud nine with acquisition of Yorkshire cloud services provider
A Yorkshire cloud services provider has announced that it is being acquired by a Northumberland communications business.
Giacom, based in Hessle, is being acquired by Prudhoe IT, communication and cloud platform business Digital Wholesale Solutions (DWS).
The deal, which was completed for an undisclosed amount, sees DWS take on Giacom’s entire team and CEO.
Giacom will continue to operate its channel focused model under the Giacom brand, and will expand under the new ownership.
Livingbridge, sellers of Giacom, first invested in the company in 2017. The principal advisors on this exit for Livingbridge included Alantra, Pinsent Masons, PwC and KPMG.
The principal advisors for DWS were EY (Financial due diligence) and Eversheds (Legal).
Mike Wardell, Giacom’s CEO commented: “The more time we spent with the team from DWS, the more similarities we saw in our businesses and how we approach the channel.
“From our focus on customer experience to our business values to the integration approach we each adopt for our technology platforms, it was clear that the two businesses are a great fit.”
Terry O’Brien, CEO of DWS, said: “I’ve admired the Giacom business for a number of years - a great channel-only business, obsessed about delivering great products and a great experience for partners through a great platform.
“We have so much in common in terms of focus, ways of working and values. Bringing together these two high growth businesses in Unified comms and Cloud services is a huge step forward in our plans to support an ever converging ICT partner channel.
“I think this will be great for our combined 5,500 partners and I am really looking forward to working with Mike and his team at Giacom.”
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