Phoenix IT acquires Aghoco
Who?
IT services company Phoenix IT Group, based in Birmingham.
Did what?
Has completed the acquisition of Aghoco 1000 Limited, a wholly owned subsidiary of KCOM Group.
What does this mean?
Aghoco was acquired on a cash and debt basis, with a consideration of £1.8m paid in cash on completion. As part of the acquisition, Aghoco’s field maintenance contracts will be managed by Servo, the group’s mid-market services division. Nick Robinson, chief executive of Phoenix, said: “The multi-platform skills that we are acquiring will significantly enhance our capabilities in this area and will enable us to expand our activities into voice support and to take full advantage of the growing trend for converged technologies.”
Insider comment:
The acquisition is part of a multi-year agreement with KCOM to provide field engineering services for their managed services customers. Under the terms of this agreement, approximately 142 staff will transfer into Phoenix IT Services effective from today.
Chief executive Nick Robinson said: “This important outsource agreement and acquisition of new contracts will greatly strengthen our long established position in the network arena.”
