Timico powers up with Powernet
Newark-based internet service provider Timico has acquired Power Internet (Powernet) and said it will "accelerate growth plans".
Powernet, which provides internet solutions and services, is based in Milton Keynes. The company specialises in data connectivity, hosting services and IP telephony for its business client base.
Tim Radford, chairman of Timico Technology Group, said: "The acquisition of Powernet is a perfect opportunity for Timico. It gives us further scale to meet the growing need for fully managed IT and communications solutions, whether they be private wide area networks or hosted data centre solutions.
"With its impressive focus on research and development and its investment in a similar infrastructure to our own, we share the same kind of commitment to providing our customers with leading edge technology solutions and fantastic service."
Powernet has operations in London, Manchester and Milton Keynes. The company employs 30 staff across its three offices.
Tony Tugulu, founder and chief executive of Powernet, said: "By becoming part of the Timico Group we are going to be in good company with like-minded industry experts who share a similar end goal.
"The synergies that will undoubtedly exist between us, will mean we are able to offer even better solutions and service to our customers, particularly in the managed networking and hosting space. As a team, we are looking forward to making a strategic contribution to the group."
