Comms firm swoops again with acquisition of IT solutions and cyber security services provider
Solihull comms firm Wavenet’s appetite for acquisitions continues with the purchase of an IT solutions and cyber security services provider which employs more than 200 staff.
The deal for OGL Computer Support and CyberGuard Technologies sees Wavenet become one of the largest providers of unified communication, cloud solutions and cyber security services.
OGL Group, which had turnover of £23m in 2020, said the acquisition presents an opportunity for the OGL Group to enhance the portfolio of services offered by OGL Computer Support and CyberGuard Technologies to support future expansion into new markets, while also enabling its OGL Software division to break away from the group to focus solely on its ERP business.
Paul Colwell, chief technology officer at OGL, said: “The acquisition of OGL’s managed IT services and cyber security divisions represents an exciting opportunity for us to extend our reach into new markets and deliver our extensive portfolio of leading solutions across Wavenet’s existing customer base. It also helps us forge future growth as we bring together our vast experience and skills.
“Wavenet demonstrated a real synergy with OGL, as a business, which will enable us to continue to deliver a first-class service and even greater value to our customers. I am enthusiastic about the future and all that this acquisition will offer to our customers and our staff.”
“Over the past 45 years the OGL Group has grown significantly,” Debbie Barton, chief executive of OGL Software said.
“And our products/services and markets have diversified so much that we felt there was greater opportunity to realise our ambitious growth plans if we gave each division its own space to expand. But it was important that we found the right way to do that for all three divisions so when Wavenet approached us about the IT Services and Cyber Security part of the business, it presented the perfect solution.
“The acquisition will enable us to continue to grow our highly successful OGL Software business. Having been actively involved in the running of this side of the business for over 35 years, I am thrilled to be able to head up the newly independent operation as we embark on the next chapter. We are proud to be a family-owned business, as we feel that is what enables us to really understand the daily challenges facing our UK customers who are often, themselves, family-run.”
Sharon Moreno, head of operations at OGL Software, said: “OGL Software is now one of the leading ERP solutions for stockists, distributors and wholesalers across the UK, and following the official launch of our new product, Profit4, in January 2021 the software company has been experiencing huge success. We have ambitious growth plans to further secure our position in the market and this new independence will give us the space and opportunity to really focus on our core business.
“Our software customers will receive the same first-class, personal service that they are used to, and we will continue to recommend OGL Computer Support and CyberGuard Technologies to our customers for their IT and cyber security services. It’s a really exciting time and I am looking forward to working with our staff and customers to drive the OGL Software business forward.”
Orbis advised on the deal, led by Shah Zaki and Nick Wall, with legal advice to the shareholders provided by Mark Gibson, Siobhan Cameron, Jon Stevens and Jagdeep Lall from DWF.
The deal follows Wavenet’s takeover of Excell Group late last year to grow its cloud and workspace business and push its revenue above £100m.
Described as “the largest deal in Wavenet’s history”, the company, backed by Macquarie Capital, made a string of acquisitions in 2021 as it pushed ahead with its buy and build strategy.