German reseller Cancom has written a cheque for Belfast-based MSP Novosco.
Cancom said the deal for Novosco would strengthen its UK presence and open up direct market access in Ireland for the first time.
Cancom, which has over 3,500 staff, said the “volume” of the acquisition is “approximately” £70 million.
Novosco was this year hit revenues of £55 million and has an EBITDA margin of around 17 percent.
Cancom SE CEO Thomas Volk 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.”
