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Manx Telecom Acquires Synapse 360
Tuesday 23 April 2019

23 April 2019 - Isle of Man-based communications solutions provider Manx Telecom plc (AIM: MANX) has entered into a conditional sale and purchase agreement for the acquisition of the entire issued share capital of Synapse Consulting Ltd. (Isle of Man) and Synapse Consultants Ltd., the company said.

Synapse 360 specialises in providing business to business managed services in the UK and the Isle of Man with a focus on virtual IT infrastructure solutions and Cloud based services.

This complements Manx Telecom's considerable capabilities in traditional telecommunications, data centre operations and network-oriented services, positioning both companies to take advantage of anticipated future growth in managed services.

As a result of the acquisition, the four existing Synapse 360 directors, including managing director Colin Sheard, will continue to lead the business which has a reputation for providing technical innovation and exceptional customer service.

Completion is expected to occur in April 2019.

Manx Telecom is an Isle of Man-based communications solutions company.
Details
Date Published: 23/04/2019
Target: Synapse Consulting Ltd, Synapse Consultants Ltd
Country: Isle of Man
Sector: Telecommunications
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Manx Telecom
Comment:
Terms of the deal were not disclosed

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