As predicted by Comms Business Magazine on 2 December Communications and technology company, Azzurri Communications, today announced that it has acquired MiTech Group, a leading provider of converged voice and data solutions, for a maximum consideration of £14.5m. Based in High Wycombe, Buckinghamshire, MiTech has an annual turnover of £20m and employs 135 staff. The move sees Azzurri complete its fifteenth acquisition in five years, confirming its position as one of the UK’s largest independent voice and data companies with annual turnover in excess of £120m.
MiTech specialises in providing data solutions to clients including the multinational Hanson PLC. and the Carrier NEOS, part of energy supplier Scottish & Southern. The acquisition will allow Azzurri to strengthen its current highly successful data offering. From MiTech, CEO Eric Thickett and all of the senior management team will remain with Azzurri as key members of the Group post completion.
Martin St. Quinton, CEO at Azzurri, comments: “MiTech is our second acquisition in as many months. MiTech has an excellent reputation in the converged data and voice area and we look forward to building on its proven success. As with all acquisitions MiTech will be fully integrated into the Azzurri Group during the next ninety days. This acquisition puts Azzurri in a very strong position from which to consider our strategic options moving into 2006.
Azzurri Communications was formed in June 2000 and has grown through fourteen previous strategic acquisitions, incorporated under one Azzurri brand.
Eric Thickett, CEO of MiTech Group added: “By becoming part of Azzurri we are joining a well established Group that MiTech will fit into perfectly. We are looking forward to using the support and expertise available within the Group, to continue growth in our existing business, look after our customers and enhance our success in winning new high profile accounts. The future looks very exciting for staff and customers alike.”