Thu, 04 Jan 2024 | BUSINESS SALE
Aspire Technology Solutions, a cyber security and workplace managed services provider (MSP) backed by private equity firm LDC, has completed the acquisition of Cloud Cover IT, a Glasgow-based firm that provides IT and digital transformation support.
The deal will see Cloud Cover IT, which was established over 11 years ago, become part of the Aspire group. The company’s software development and business applications division will be rebranded following the acquisition, trading as Flyte.
Aspire serves in excess of 1,700 customers and has a team of around 250 staff. The group is headquartered in Glasgow, with additional offices in Teesside, London and Leeds.
Aspire Chief Executive and founder Chris Fraser said that the acquisition “marks a new and exciting chapter for both companies” and that the deal would strengthen the group’s presence in Scotland, “positioning us in a thriving market”.
Fraser continued: "The Cloud Cover team will become an integral part of the Aspire group, and together, we believe we can grow significantly in this key strategic market. I'm excited to see the opportunities accelerate as we offer customers, present and future, the innovative solutions that they need in a changing world."
Cloud Cover IT Managing Director and founder Lance Gauld said that “multiple factors” had driven the company to Aspire, saying that the two firms shared "share similar values in our approach towards our people, customers, and objectives."
Gauld added that the deal “is not merely a merger with a large IT company; it is a collaboration with a leading UK technology provider that understands us.” Gauld stated that, as part of Aspire, Cloud Cover can further grow its footprint and broaden its offerings, “with access to more expertise, resources and an extensive portfolio of solutions to help our customers drive their businesses forward."
Read about another recent investment made by LDC in a UK IT firm
The company develops best-in-class SaaS software products that focus on the standardization, optimization, and control of a customer’s core operational processes. Embedded in the software design are the Lean / Six Sigma Operational Excellence princip...
This pre-revenue Company is an innovative developer of Smart-Plugs that offer potentially life-changing solutions that will support a range of different agendas. It is the only product in the market to offer security by restricting use via the power...
The opportunity has arisen to purchase a successful business providing mapping services to their clients. They provide products and services where location is significant, using their own software developed in-house.
The business and assets of eyewear and optician chain Ollie ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.