Munich-headquartered Cancom has entered the UK market and strengthened its cloud managed services offering with the acquisition of London-based Ocean Intelligent Communications.
Cancom has taken an 82.1% stake in Ocean – a Cisco partner - to build on its cloud, unified communications and collaboration offer to its international customers. The founders and several members of the Ocean management team will remain part of the company as minority stake partners.
Cancom said: “Ocean is a fast growing cloud and managed services provider for unified communications, collaboration and networking infrastructure. The global client base and the services portfolio of Ocean strengthen Cancom's international business.”
It said it had pinpointed cross selling potential from the deal in existing markets, as well as expanding European ones Cancom is targeting. “This is an ideal next step on the strategic growth path of Cancom,” it said.
Thomas Volk, general manager of Cancom, said: “Ocean will benefit from Cancom's customer reach and the leverage of our technology and service capabilities. We are very glad, that together with Ocean, we are able to reach the next milestone in growing our business."
Volk said key members of the management of Ocean will “remain active in the business” after the transaction to “drive forward the already fast growing business”, in addition to remaining minority stake partners of the company. Wayne Lloyd, CEO of Ocean Intelligent Communications, said: "We are very happy to join Cancom and become part of the group. This will enable us to serve our large international customers better and it will accelerate our business growth.
“Cancom's cloud technology platform AHP will be a key benefit and differentiator for us. The management team is excited to continue Ocean's journey as part of Cancom.”
Cancom used to operate as an Apple Premium Reseller in the UK, but this business was sold off to Dorset reseller Trams in 2012. €1bn-plus turnover Cancom employs 2,900 worldwide, with major markets in Germany, Austria, Switzerland, Belgium and the US, among others.