Manx Telecom PLC – Acquisition of Synapse 360

Manx Telecom PLC – Acquisition of Synapse 360

Manx Telecom PLC (AIM: MANX), the leading Isle of Man-based communications solutions provider, is pleased to announce it has entered into a conditional sale and purchase agreement for the acquisition of the entire issued share capital of Synapse Consulting Ltd. (Isle of Man) and Synapse Consultants Ltd. (“Synapse 360”).

Synapse 360 specialises in providing Business to Business managed services in the UK and the Isle of Man with a focus on virtual IT infrastructure solutions and Cloud based services. This complements Manx Telecom’s considerable capabilities in traditional telecommunications, data centre operations and network-oriented services, positioning both companies to take advantage of anticipated future growth in managed services.

As a result of the acquisition, the four existing Synapse 360 Directors, including Managing Director Colin Sheard, will continue to lead the business which has a reputation for providing technical innovation and exceptional customer service. Completion is expected to occur in April 2019. 

Manx Telecom CEO Gary Lamb said, “Synapse 360 is an excellent fit with Manx Telecom. 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”.

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