Shift F7 acquired by AdEPT
AdEPT (AIM: ADT) a leading UK independent provider of award-winning managed services for IT, unified communications, connectivity and voice solutions announced the acquisition of the Shift F7 Group.
The announcement was confirmed on the London Stock Exchange.
The teams at Shift F7 and AdEPT have been working together for more than 10 years in relation to the supply of telecom and data connectivity services. As a result the acquisition of Shift F7 fits perfectly into the AdEPT’s acquisition strategy as it further expands the commercial IT capability and customer base of AdEPT, whilst providing the Company with continued geographical focus on London and the South East.
Ian Fishwick, chief executive of AdEPT, said: “We are delighted to have acquired such a high quality, well-run and profitable business with a strong management team. Shift F7 is an excellent fit because it enhances our market position in IT, particularly in London.
AdEPT’s annualised group revenue run rate is anticipated to increase by approximately 10% to £54m pa with more than 70% of AdEPT’s revenue being generated from managed services including IT support, unified communications and data networks.
The senior management at Shift F7 will remain in place, being responsible for the strategic direction, technical development and the day-to-day operations.
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