Horizon Capital-backed Modern Networks has kicked off an acquisition trail by gobbling up Bridge Fibre and Response IT to bulk out its ISP and MSP services respectively.
The buys give Modern Networks a turnover in excess of £20m and a headcount of 150, split across Hitchin, Manchester, Cambridge and Guildford.
Simon Hitchcock, Managing Partner at Horizon said: “These are the first two of a planned series of acquisitions as we look to scale the business and extend its capabilities.”
Cambridgeshire-based Bridge Fibre work closely with landlords of multi-tenanted commercial properties to provide fibre internet and telecoms services to science and business parks. Its acquisition will bolster Modern Network’s consolidated IT and telecommunications offering for the property management sector.
The acquisition of IT MSP Response IT allows Modern Networks to create a superior technical team and expand its regional presence in London and Surrey.
Modern Networks founder and CEO, Matt Reeve (pictured) said: “Joining forces with Bridge Fibre and Response IT provides Modern Networks with additional breadth and capability across our key service lines.”