Isle of Man-based Manx Telecom has announced that it is to acquire Synapse360, an IT infrastructure and managed services provider which operates in both the Isle of Man and the UK, in a deal of undisclosed value. In a press release announcing the buyout, Manx Telecom said it anticipates that the purchase, which ‘brings together the Isle of Man’s leading telecoms provider and the Island’s leading B2B managed services provider, will enhance the choice available to Island-based customers’. Privately-owned Synapse360 will continue to operate under its current brand name as an independent company under the direction of its existing management team.
Commenting on the acquisition, Manx Telecom CEO Gary Lamb said: ‘This acquisition makes sense from every angle. The ‘fit’ between both companies is an excellent one, each having complementary skills and expertise, plus a shared vision of the future. It also comes at the right time as we both look for continued growth in the fast-developing B2B managed services sector in the UK and on the Isle of Man. Synapse360 specialises in IT-oriented managed and Cloud based services and this, when allied to Manx Telecom’s considerable capabilities in traditional telecommunications, data centre operations and network-oriented managed services, will perfectly position both companies to take advantage of areas of undoubted growth for the future.’