ITS picks up Networks by Wireless assets
IT managed services firm, ITS Technology Group (ITS), has bought the assets of South Yorkshire-based Networks by Wireless out of administration.
Runcorn-based ITS said the deal will double revenues to £5m and give it contracts with large public sector organisations such as Aberdeen Council, Vale of Glamorgan Council, Bedfordshire Police, and the Countess of Chester Hospital.
Networks by Wireless, which failed last month, was partly owned by the private equity house Maven Capital Partners. It had around 25 staff and ITS said it will retain “at least six”, but does not yet know if it will keep an office in Sheffield.
ITS chief executive Roy Shelton said: “Networks by Wireless has built a significant footprint and acquired an impressive client portfolio over the last 15 years. This acquisition will not only enhance our value proposition by providing an even richer end-to-end solution across fixed and wireless broadband networks in both urban and hard to reach areas, but will also build on our managed services capabilities.
“It will also increase our network assets, for example, we now own the Digital Dales in Teesdale, County Durham which delivers wireless broadband to the area’s hard to reach rural locations.”
The value of the deal was not disclosed.