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- CANCOM buys 82.1 percent of Ocean Intelligent Communications Ltd, London
- Cooperation strengthens international market footprint in cloud and managed services and enables synergies in the field of unified communication and collaboration
- Founders and several members of the management team remain part of the company as minority partners
Munich, Germany, 13 March 2018 - From now on Ocean Intelligent Communications Ltd and CANCOM Group act as partners in the international IT market. The future partnership has been sealed by CANCOM purchasing 82.1 percent of the shares of the British company. Ocean is a fast growing cloud and managed services provider for unified communication, collaboration and networking infrastructure.
The global client base and the services portfolio of Ocean strengthen CANCOM's international business and managed service offering. With the transaction the Management Board of CANCOM specifically aims at synergies and cross selling potential in already existing markets of CANCOM and Ocean as well as at expanding into new European regions. Therefore, the inclusion of Ocean is an ideal next step on the strategic growth path of CANCOM: It extends the international footprint, offers growth potentials in new markets and contributes to the market consolidation.
"The products and solutions of CANCOM and Ocean are an excellent match. We will accelerate the cloud managed services business and extend existing client relationships internationally. Ocean will benefit from CANCOM's customer reach and the leverage of our technology and service capabilities. We are very glad, that together with Ocean we are able to reach the next milestone in growing our business," said Thomas Volk, President and General Manager of CANCOM SE.
The key members of the management of Ocean Intelligent Communications Ltd will remain active in the business after the transaction to drive forward the already fast growing business. In addition, the founders and several managers remain minority partners of the company.
"At Ocean we are very happy to join CANCOM and become part of the group. This will enable us to serve our large international customers better and it will accelerate our business growth. CANCOM's unique cloud technology platform AHP will be a key benefit and differentiator for us. The management team is excited to continue Ocean's journey as part of CANCOM and to participate actively in the future success," said Wayne Lloyd, CEO of Ocean Intelligent Communications Ltd.
As a 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 CANCOM's extensive expertise and an innovative portfolio that covers the requirements of business IT for successful digital transformation with smart business solutions and services in IT trends such as cloud computing, analytics, enterprise mobility, or security. The internationally active group of companies, employing around 2,900 people worldwide, and its powerful partner network ensures presence and proximity to clients in Germany, Austria, Switzerland, Belgium, and the United States, among other locations. CANCOM SE, which is listed on the TecDAX and based in Munich, is headed by Klaus Weinmann (Founder and CEO), Rudolf Hotter (COO), Thomas Volk (President and General Manager) and Thomas Stark (CFO). The group achieves an annual turnover of more than one billion euros per year.
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