Acquisitive MSP Prime Networks has continued its buy-and-build strategy through the acquisition of London-based MSP Our Tech Team (OTT).
OTT provides services including IT support, cloud computing, VOIP and security and partners with e.g. Dell, Cisco and Apple.
Prime Networks claims the acquisition will add its “expanding customer base and will add additional engineering resources to both project delivery and IT support services”.
Mark Simons, CEO of Prime Networks, said: “I’m pleased to announce our acquisition of Our Tech Team, which is our fourth transaction since we launched our buy-and-build program, and the second transaction for us in 2021. .
“We have been following OTT’s progress closely for a number of years and I am delighted to welcome the team to Prime.”
“With OTT, we welcome a number of amazing customers. I’m also pleased to announce Joel Lassman’s appointment to our Board of Directors to lead our account management function across the group.”
Prime, which is also London-based, now employs over 50 people and provides IT services to over 400 SMEs and mid-sized customers after the acquisition, it claims.
The company secured a debt financing package with Clydesdale Bank in 2018 and announced the acquisition of Bournemouth-based MSP G3 Solutions in September.
It is “already in negotiations with additional goals to complement its buy-and-build program for 2022,” the group added.
“This was an opportunity too great to miss, and I’m really excited about the great prospects for our customers and staff as part of Prime’s broader group,” said Joel Lassman, founder of OTT.