Harrogate's InTechnology sold for £65 million

Redcentric plc, a technology and network provider based in Cambridge has bought InTechnology, a Harrogate-based IT service provider, for £65 million.

Redcentric predicts that this acquisition that will double revenues and increase recurring revenues to more than 80 per cent. creating one of the largest independent managed services businesses in the UK.

Tony Weaver, CEO of Redcentric said: “This transformational acquisition will help the Company to achieve its aim of becoming the leading independent managed services business in the UK.”

“Redcentric will become a go to provider in the mid market for end-to-end managed services as we will be one of very few providers with high quality data centre assets connected by a national data network with a significant cloud platform and a broad suite of technical support skills.”

“I am excited about the opportunities that exist and would like to thank both existing and new shareholders for their overwhelming support of the transaction.”

Peter Wilkinson, CEO of InTechnology added: “I have felt for some time that InTechnology Managed Services needed to become a much bigger force in the UK market.”

“This transaction instantly achieves that aim, the two companies combined creates a major force in the market which provides an unrivalled range of quality products and services to its large expanded customer base.”

“I am very proud of the business we have built and would like to thank customers and staff alike for their support, which has contributed to its success, and look forward to an exciting future.”