alwaysON Group and Data Continuity Group announced today that they have reached agreement to merge creating an organisation with over £8.5M pa of IT managed services and cloud applications revenues.
As part of the transaction Foresight Group VCT Funds is making a significant investment to accelerate product development and to strengthen the balance sheet of the combined Company, and is looking to support further acquisitions for the Group. Foresight is a significant investor in both Companies and facilitated the merger to produce a Group with increased scale but also with the capability of investing further in service and product developments.
Martin Peck will take on the role of Chairman of the combined Group and the executive team at DCG, Alan Back (Managing Director), Neil Hewer (Services Director) & Charlotte Histed (Financial Controller), will be appointed to the Board of the Group Holding Company.
“We have no doubt that the combined value offered by DCG and alwaysON will enable our customers to realise significant benefits across the board. Uniting the two organisations means we can provide best of breed solutions that can improve business performance and efficiency today and the opportunity for innovation tomorrow. It’s a very exciting proposition” commented Martin Peck, Executive Chairman.