£5m acquisition to boost firm's London presence
Shift F7 Group has been acquired by fellow IT services firm AdEPT in a deal worth £5 million.
Kent-headquartered AdEPT said acquiring Surrey-based Shift F7 would enhance its position in London.
"We are delighted to have acquired such a high quality, well-run and profitable business with a strong management team,” said AdEPT chief executive Ian Fishwick.
"Shift F7 complements our acquisition of OurIT in February 2017 which is also focused on London and South East commercial customers."
AdEPT is an independent provider of managed services for IT, unified communications, connectivity and voice solutions.
Following the acquisition, AdEPT expects that more than 70 per cent of its revenue will be generated from managed services including IT support, unified communications and data networks.