Deal news: CANCOM SE acquisition of managed cloud provider Novosco

Deal news: CANCOM SE acquisition of managed cloud provider Novosco

Deal news: CANCOM SE acquisition of managed cloud provider Novosco

Stevens & Bolton LLP has advised CANCOM SE, one of the leading providers of IT infrastructure and services in Germany and Austria, on its acquisition of Belfast based managed services provider Novosco Group Limited

The acquisition strengthens CANCOM’s market presence in the UK and opens up direct market access for the first time in Ireland. Stevens & Bolton has advised CANCOM over the past few years, including on its acquisition of UK-based UCC and Managed Services provider Ocean Intelligent Communications in 2018, and later that year on its acquisition of IT services provider OCSL.

As a digital transformation partner, CANCOM guides businesses into the digital future, with an innovative portfolio that covers the requirements of business IT for successful digital transformation, including cloud computing, analytics, enterprise mobility and security. The integration of Novosco will further expand the CANCOM Group's managed services capacities, which supports the overall corporate strategy, strengthens the managed services business and creates a dynamic increase in annual recurring revenue.

Founded in 1995 and based in Belfast, with additional offices in Dublin, Republic of Ireland and Manchester, Novosco mainly supports its customers with managed services and cloud-based services, as well as providing IT consulting and support.

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,"

Commenting on the acquisition, Patrick McAliskey and John Lennon, Directors of Novosco Group Limited said, “This is a hugely positive and exciting development for Novosco, our people, our clients and the communities in which we operate, bringing together two companies with very complementary expertise and very similar cultures, ambitions and outlooks. CANCOM is a world-class business with a global reach that sees the addition of Novosco’s people, expertise and client-base as a core part of its strategy for growth. The combined specialisms, resources and skills of the two businesses creates 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.”

The Stevens & Bolton team was led by corporate partner Nick Atkins, supported by Krishna Patel, Sarah Williams and Samuel Salter-Galbraith (corporate), Jamie Crawford and Sarah Balchin (corporate tax), Laura Barrett and Caroline Carmichael (Banking and Finance), Gary Parnell, Nick Schippers and Matthew Horth (commercial), Boma Adoki (employment), Gabrielle Holgate (pensions), Ian Craig and Katie Green (real estate).

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