The deal is part of Timico’s strategy to become “the UK’s leading independent ICT Managed and Cloud Services company,” the firm said.
Exact financial terms were not disclosed. However Timico said the “multi-million-pound investment” will provide new opportunities for its customers. The company’s focus includes end-to-end solutions across network connectivity, ICT managed services, digital workplace, security, and cloud services.
London-based 25sevenIT has expertise in the hospitality sector, along with consulting and cloud experience. “We believe that technology should be an investment that delivers a significant return to the bottom line of a business, and we are delighted that we are being acquired by a company whose objectives and priorities align with ours,” said Mark Hanson, managing director, 25sevenIT.
The acquisition follows news from Timico that it appointed a new CEO, Neil Muller, and a new COO, John Holt.