Pinnacle swoops for RMS
RMS Managed ICT Security, based in Stoke-on-Trent, has been bought by Pinnacle Telecom Group for more than £468,301.
Pinnacle made the acquisition of the IT security software provider through its subsidiary Pinnacle Cloud Solutions.
RMS's Staffordshire base will "strengthen Pinnacle's reach across the UK", the Scotland-based company said this morning.
Pinnacle, which supplies cloud based technology solutions, said the deal will also bring in an additional 1,700 customers from mid-market to the public sector.
An initial £25,000 was paid for RMS, with deferred payments totalling £343,301 set to be supplied in cash between 31 October 2011 and 25 December 2014.
Alan J Bonner, chief executive of Loanhead, Scotland-based Pinnacle, said: "This acquisition has a significant impact on the group in terms of the revenues, opportunities and skills that it brings from outset.
"Following the 90-day integration period (where we are likely to see a number of one-off restructuring costs), we expect RMS to be earnings enhancing and very much in keeping with our strategy to build Pinnacle through bolt-on, well priced acquisitions."
