Borders-based telecom, internet and IT managed services business SoConnect has acquired Edinburgh-headquartered telecoms services business IT Centric for an undisclosed sum.
IT Centric was founded in 2004 by managing director Gordon Sayers. He and David Ellis - previously a non-executive director at IT Centric - will join Campbell Fraser and Bob Bazley on the SoConnect’s board.
The acquisition adds around 80 small business clients to SoConnect’s customer base, which now totals over 500 across the UK.
The combined group has a headcount of 38, supported by a nationwide network of over 200 engineers, and is forecast to report revenue in excess of £5m in its next financial year.
In December 2019, SoConnect secured a bolt-on deal with Edinburgh-based managed service provider Netopa, with Fraser not ruling out further growth by acquisition over the next 12 to 18 months.
Fraser said: “This latest acquisition further strengthens our cloud, cyber security and hosted services, and we are now even better placed to support UK-wide SME’s remote workforces in the wake of Covid-19 and what will be the new ways of working.
“Having successfully integrated Netopa in 2020, we look forward to another smooth integration over the next few months and are excited to welcome Gordon, David and the team.
"As with the Netopa acquisition, we are in a position of real financial strength including with around 80 per cent of our contracted revenue being recurring and we have again self-funded the acquisition,” he added.
Sayers commented: “In common with Campbell, we share the vision around providing great value market-leading IT managed services, internet and communication services with best of class customer support.”
