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Munich, Germany, 9 August 2018 - Today CANCOM signed a contract to acquire the parent company of UK IT solutions provider OCSL. In joining forces with OCSL, CANCOM takes another determined move towards a substantial UK market presence and the international growth of its business. In spring 2018, CANCOM acquired the UK-based UCC and Managed Services provider Ocean Intelligent Communications, now renamed as CANCOM Collaboration and Communication.
With OCSL acting as future hub for CANCOM Group's UK activities, the transaction creates a major player in the country's IT market by utilizing the combined product portfolios, capabilities and partner relationships of OCSL and CANCOM together. At the same time, it establishes a substantial UK-based branch for international clients and the managed services business of the whole CANCOM Group.
"Our aim is to expand our Cloud and Managed Services business and this requires international structures. The close cooperation of both new British members of the CANCOM family together with the total Group, not only offers numerous opportunities in the UK, like introducing existing and potential clients to our IT infrastructure management software AHP. It also allows us to build a UK-based hub to serve international clients even better than today and it intensifies CANCOM's transformation towards becoming an international company", said Thomas Volk, President and General Manager of CANCOM SE.
Commenting on the acquisition, Tim Thrower, founder of OCSL said, "I am delighted that the next stage in OCSL's evolution is to become the UK based hub of such a large, successful and forward thinking company as CANCOM. OCSL has been on a journey to become a more services and cloud centric business. Becoming part of the CANCOM family, will accelerate that future for us. I feel we share a good cultural fit and this bodes well for a very exciting future. I would like to thank OCSL's employees for all playing their part in making OCSL the chosen partner for CANCOM's future growth in the UK".
Both companies have a similar heritage and vision
OCSL is a leading UK provider of cloud and on premise IT solutions, consultancy and support. It offers a broad portfolio of IT products and services to its clients, ranging from cloud and managed services, IT architecture design and strategic consultancy to data center services as well as hardware and software. Just like CANCOM, it started as a reseller of hardware and software in the 1990s. And just like CANCOM it started to transform its portfolio and strategy towards offering cloud-based and software-supported as-a-service solutions in a hybrid IT environment. Through this, OCSL already runs a substantial growing Managed Services and IT consulting operation as well as its own data center, in addition to the legacy IT product and solutions business. OCSL currently has more than 200 employees located mainly in the UK and generated revenues of around GBP 70 million in the last full financial year before the transaction.
As Digital Transformation Partner, CANCOM guides businesses into the digital future. The CANCOM Group's business-oriented IT solution range encompasses consulting, implementation and services. Clients benefit from extensive expertise and an innovative portfolio that covers business IT requirements for a successful digital transformation. IT trends such as cloud computing, analytics, enterprise mobility or security are addressed with smart business solutions and services. The CANCOM Group operates internationally and has more than 3,000 employees worldwide. Together with a powerful partner network, many geographies enjoy market presence allowing close client proximity including Germany, Austria, Switzerland, Belgium, the United Kingdom and the United States. CANCOM Group is headed by Klaus Weinmann (Founder and CEO), Rudolf Hotter (COO), Thomas Volk (President and General Manager) and Thomas Stark (CFO). The company's headquarter is in Munich, Germany. CANCOM SE is listed on the Frankfurt Stock Exchange in the index TecDAX (ISIN DE0005419105) and the group achieves an annual turnover of more than one billion euros.
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