Manchester-based IT firm Synapse360 is set to be acquired by Manx Telecom, the Isle of Man-based telecommunications, data centre, and managed services operator.
Synapse360, which is privately owned, was established in 1999 and currently employs 40 staff based in Manchester and the Isle of Man specialising in the design, deployment, and support of virtualisation, storage, protection, hybrid cloud and IT infrastructure solutions to organisations.
It has a diverse customer base comprised mostly of mid-sized companies and has also developed strong relationships with B2B partners, especially vendors including Dell EMC Platinum Partners and Cisco Certified.
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The company will continue to operate under the Synapse360 brand and under the direction of its existing management team, including founding managing director, Colin Sheard.
He said: “Since its foundation some 20 years ago Synapse360 has grown organically, gradually adding to our skills and expertise and growing our customer base, and I’m convinced that this is the natural and very positive next stage in our development.
“Manx Telecom’s ownership will underpin our ability to provide our current range of products and services, and in the long run the backing of a larger entity such as Manx Telecom will provide capital and other resources which will enable Synapse360 to widen its products and services portfolio, giving our customers even more choice.”
Gary Lamb, Manx Telecom CEO, said: “This acquisition makes sense from every angle. The ‘fit’ between both companies is an excellent one, each having complementary skills and expertise, plus a shared vision of the future.
“It also comes at the right time as we both look for continued growth in the fast-developing B2B managed services sector in the UK and on the Isle of Man.
"Synapse360 specialises in IT-oriented managed and cloud based services and this, when allied to Manx Telecom’s considerable capabilities in traditional telecommunications, data centre operations and network-oriented managed services, will perfectly position both companies to take advantage of areas of undoubted growth for the future.”
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