Deal agreed for Leeds Cloud technology specialist

La Salle can report that Adept4, a listed IT services provider with headquarters in Warrington has agreed a deal to acquire Leeds-based cloud technology specialists CloudCoCo.

Businesses acquired: CloudCoCo Limited

Activities: Incorporated in 2017, the company offer a range of managed services including cloud, voice & collaboration, network, and hardware & ICT procurement to clients in the public sector, enterprise, along with start-ups.

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Purchaser: Adept4 Managed IT Ltd

Activities: Incorporated in 2007, the company is engaged in the provision of managed IT infrastructure, technical consultancy, software development, telephony, and professional services to business enterprises in the UK and internationally.

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Additional info:

Simon Duckworth, chairman of Adept4, said: "We are delighted to have agreed heads of terms to acquire CloudCoCo which has a proven salesforce with an enviable growth track record.

"Subject to completion of the proposed acquisition, we plan to drive growth from both Adept4's existing customer base and CloudCoCo's own customers and pipeline. Furthermore, the associated proposed reduction in the company's debt would strengthen the group's balance sheet and demonstrate the strong support of our largest shareholder. We see this as a very positive step to return value to shareholders."