Acquisition is LinchPin in technology group’s buy-and-build strategy

The Business Desk

Register for free to receive latest news stories direct to your inbox


Telecoms provider Convergence Group has made its latest acquisition as it connects part of a recently-agreed £16m funding package to its growth ambitions.

The Solihull-headquartered business has taken over one of its resellers, LinchPin Networks. It has worked with the Sussex-based company for more than a decade.

Danny Masters, managing director of Convergence Group, said: “Through this acquisition, we are building our high-quality customer base and expanding across several target sectors – including healthcare and higher education – which is part of our long-term vision to grow the business and reach more customers across the UK.”

The deal comes two months after Convergence bought network specialist LAN3.

It agreed an initial £8m revolving credit facility from NatWest to expand its services and has access to a further £8m to support its buy-and-build strategy.

Convergence Group is a telecoms provider for businesses, health authorities and retailers which generated annual revenues of £32m before the pandemic. It runs its own business-only network, which means its customers do not have to compete with residential networks.

Join us at the 2021 Rainmaker Awards in Manchester on September 9

Source link

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">html</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>


%d bloggers like this: