Stevens & Bolton advises IT provider CANCOM on new acquisition

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 82.1% of UK based Ocean Intelligent Communications Ltd.

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 partnership with Ocean, a fast growing cloud and managed services provider, strengthens CANCOM’s cloud managed services offering internationally and focuses on the synergies of both organisations, allowing unified communication and collaboration.

Key members of the management of Ocean will remain active in the business to drive forward the already fast growing business. In addition, the founders and several managers will remain minority partners of the company.

The Stevens & Bolton team was led by corporate partner Nick Atkins, supported by James Whistler and Mary Liu (corporate), Jamie Crawford (corporate tax), Gary Parnell (commercial), Clare Strachan and Lillee Reid-Hunt (real estate), Abigail Etchells and Boma Adoki (employment), Aslihan Ozbey (finance) and Gabrielle Holgate (pensions). The team worked closely throughout the transaction with Cancom SE’s German lawyers Heuking Kühn Lüer Wojtek, led by Boris Dürr, Marcel Greubel and Christian Schild.

Thomas Volk, President and General Manager of CANCOM SE, said, "The products and solutions of CANCOM and Ocean are an excellent match. We will accelerate the cloud managed services business and extend existing client relationships internationally. Ocean will benefit from CANCOM's customer reach and the leverage of our technology and service capabilities. We are very glad, that together with Ocean we are able to reach the next milestone in growing our business."

Wayne Lloyd, CEO of Ocean Intelligent Communications Ltd, said, “At Ocean we are very happy to join CANCOM and become part of the group. This will enable us to serve our large international customers better and it will accelerate our business growth. CANCOM's unique cloud technology platform AHP will be a key benefit and differentiator for us. The management team is excited to continue Ocean's journey as part of CANCOM and to participate actively in the future success."

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