Cloud business launches following £30m triple tech merger
A cloud-based managed service provider has launched in the UK today following a multi-million pound merger.
DoubleEdge Professional Services, Foehn and Metaphor IT have merged in a £30m deal funded by LDC to form new business Kerv.
Kerv offers business outcome-focussed solutions, initially comprising converged IT managed services, unified communications, contact centre, security and compliance applications. Alastair Mills, executive chairman of Kerv, commented: “Working in partnership with LDC to bring together these three businesses creates a strong foundation for growth.
“We plan to invest in great companies and accelerate organic growth through a relentless focus on customer experience. Our goal is not to chase short-term profit gains through aggressive cost cutting as we acquire complementary businesses.
“In a technology market that continues to consolidate rapidly through M&A, we feel now is the right time for a change in focus and culture. LDC’s investment in our business during this unprecedented period is testament to the strength of our proposition.”
The transaction was led by Head of LDC in London Yann Souillard, investment director Aylesh Patel and investment manager Lewis Winston. Yann added: “We’ve been working with Alastair and Mike for some time and we’re all equally excited about the growth potential of Kerv.
“The combination of customer-focused cloud-based solutions, along with Alastair and Mike’s track record and our approach to long-term partnership all stand the business in good stead to become a market leader.”
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