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Manx Telecom To Buy IT Services Firm Synapse For Undisclosed Sum

Tue, 16th Apr 2019 10:59


LONDON (Alliance News) - Telecommunications firm Manx Telecom PLC said Tuesday it had agreed to buy business IT services firms Synapse Consulting Ltd and Synapse Consultants Ltd for an undisclosed sum.

Completion of the deal is expected to occur later in April with all four current Synpase directors - including Managing Director Colin Sheard - remaining on at the business.

"Synapse 360 is an excellent fit with Manx Telecom," Manx Chief Executive Gary Lamb said. "We have long viewed managed services as a potential growth area for the business and Colin and his team's success over the last 20 years have reinforced us in this view, and confirmed us in the intention to make this attractive bolt-on acquisition."

Shares in Manx were 0.1% lower at 214.31 pence on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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