IT services firm Trustmarque has acquired software and cloud optimisation firm Livingstone as the first stage of an ambitious acquisition run.
The undisclosed deal sees £78.9m turnover Trustmarque take control of £12.4m Livingstone Technologies which sells services around the world. Reading-based Livingstone's management team will remain in post along with 150 employees.
Trustmarque, which employs about 380 people and is backed by New York-based private equity firm One Equity Partners , said the move completed its existing capabilities in software asset management, cloud and licensing.
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Chris Allan, CEO of Livingstone, said: “Everyone at Livingstone is excited to join the growing Trustmarque family. Our combined expertise will create unrivalled end-to-end services across the software lifecycle for our customers.
"In Trustmarque, we recognised a partner with the same vision as ours: a commitment to ensuring our customers buy what they need, secure their environment, and renew it optimally. We look forward to working together to help all our customers harness the power of technology through smart IT investments."
Trustmarque chairman, Torgrim Takle, said: "Today we embark on an extraordinary growth opportunity, becoming stronger and more adaptable through all the synergies with Livingstone. I’m confident that our strengthened combined capabilities will further support the cloud and digitalisation agenda of our key technology partners, particularly Microsoft and Cisco, while delivering an enhanced value proposition to all our collective customers."
Houlihan Lokey acted as financial advisor to Livingstone.
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