Acquisition is LinchPin in technology group’s buy-and-build strategy

Telecoms provider Convergence Group has made its latest acquisition as it connects part of a recently-agreed £16m funding package to its growth ambitions.

The Solihull-headquartered business has taken over one of its resellers, LinchPin Networks. It has worked with the Sussex-based company for more than a decade.

Danny Masters, managing director of Convergence Group, said: “Through this acquisition, we are building our high-quality customer base and expanding across several target sectors – including healthcare and higher education – which is part of our long-term vision to grow the business and reach more customers across the UK.”

The deal comes two months after Convergence bought network specialist LAN3.

It agreed an initial £8m revolving credit facility from NatWest to expand its services and has access to a further £8m to support its buy-and-build strategy.

Convergence Group is a telecoms provider for businesses, health authorities and retailers which generated annual revenues of £32m before the pandemic. It runs its own business-only network, which means its customers do not have to compete with residential networks.