IT service provider Novosco is joining the Munich-based CANCOM Group as part of a £70m deal.
The Belfast-based company is being acquired by the multi-national IT solutions provider as it seeks to expand in the UK and enter the Irish market.
Novosco currently employs around 300 people, mostly based in Belfast. It provides IT services across the public, private and voluntary sectors, including several large UK NHS Trusts and housing associations.
It also has offices in Dublin and Daresbury, near Manchester.
CANCOM employs more than 3,500 people worldwide. It operates in Germany, Austria, Switzerland, Belgium, Slovakia, Britain and the USA.
Northern Ireland entrepreneurs Patrick McAliskey and John Lennon, founders and directors of Novosco Group Limited said that the deal is a perfect fit for both companies: “CANCOM is a world-class business with a global reach that sees the addition of Novosco’s people, expertise and customer-base as a core part of its strategy for growth.
“The combined specialisms, resources and skills of the two businesses create a very strong platform from which to further enhance the service we provide to our existing clients and to challenge for new and exciting contracts.”
CANCOM hopes the integration of Novosco will further expand its IT managed services capacities and bring highly qualified people into its business.
Thomas Volk, CEO of CANCOM SE, said: "Novosco's product portfolio extends our capabilities tremendously and the customers we serve complement each other perfectly.
“Virtually all Novosco customers have no business connection to us yet. In addition, the transaction gives us direct market access in Ireland for the first time, and around 300 specialist staff and a highly profitable business will join CANCOM. We are very excited about this acquisition."
In addition to the acquisition, it was announced that Mr. Lennon will become joint managing director of CANCOM UK and Mr. McAliskey will continue to be a shareholder of and advisor to the company.
