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Deal will execute on the integrator’s expansion strategy in mainland Europe, and create new centre of excellence for Service Management.
London, March 4th, 2013 – Logicalis Group, the international IT solutions and managed services provider has agreed to acquire the four European subsidiaries of 2e2, excluding their UK business, for €24million ($31 million). Separately, Logicalis has employed approximately 70 people from the defunct 2e2 UK operation and assumed some of their respective business.
Logicalis Group will acquire the Spanish and Irish systems integration businesses, operated under the Morse banner; the Channel Islands business (Jersey and Guernsey) and their operation in the Netherlands which is a leading IT Service Management (ITSM) Consultancy, also providing ITSM-as-a-Service offerings.
Ian Cook, Chief Executive of Logicalis Group, comments:
“This transaction delivers on our stated intentions to grow our European presence and augment our solutions and services capabilities. In particular, the Spanish business is strategically important to us to strengthen relationships with our multinational clients in Latin America. The Service Management Consultancy business further enhances our services offering and allows us to introduce it to Logicalis’ wider international audience.
It also allows us to deliver an enhanced portfolio of communications and collaboration, data centre, managed services and cloud services to these new markets.”
The Spanish operation based in Madrid and Barcelona has a strong enterprise managed services focus and is a key vendor partner of IBM with strong customer relationships that complement many of Logicalis’ multinational clients in Latin America.
The Irish operation, based out of Dublin and Cork, is a leading provider of enterprise hardware and software solutions and services, and has long standing and strong partnerships with leading industry vendors such as IBM, NetApp and HP, and further enforces Logicalis’ commitment to these existing strategic partners.
The Channel Islands operation is one of the largest IT service companies in the Channel Islands and offers a comprehensive range of Information and Communications Technology services and solutions in their local markets.
These operations in Spain, Ireland and the Channel Islands will operate under the Logicalis banner and serve to offer Logicalis’ extensive communications and collaboration, data centre, managed services and cloud services portfolio.
The Netherlands subsidiary, is a provider of industry-leading Service Management consulting, solutions and services, and will operate as Logicalis SMC (Service Management Consultancy). As well as continuing to support its existing customers, across a number of European countries, it will serve as a Service Management centre of excellence hub. Logicalis SMC brings a world-class team of ITSM consultants, as well as its leading IT-Guardian ITSM-as-a-Service offering.
As a result of this complete transaction, Logicalis will expand its operations with over 480 employees in the Channel Islands, Spain, Ireland and the Netherlands and with annualised revenues of approximately $150 million and unaudited EBITDA of more than $8m.