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Wavenet secures fourth acquisition in 15 months with OGL deal

Wavenet has acquired OGL Computer Support Holdings Limited in a deal it claims will broaden its offering and "enhance the service provided to customers".As part of the acquisition, Wavenet will also acquire the company's two subsidiaries - OGL Computer Support Limited and CyberGuard Technologies Limited.The move makes this the fourth acquisition in the last 15 months for the Solihull based telecoms and technology solutions provider.The transaction was backed by Macquarie Capital, which became a majority stakeholder in Wavenet in 2021.Bill Dawson, CEO of Wavenet, said the deal will bring a "wealth of knowledge and experience" to the group."It enables the Wavenet Group to broaden its offerings, and enhance the service provided to our customers," he added."We continue to be grateful for Macquarie Capital's partnership and flexible capital support in enabling this next phase of growth for the Wavenet Group." OGL group says the move provides a "fantastic opportunity" to enhance the portfolio of services offered by OGL Computer Support and CyberGuard Technologies to support future expansion into new markets.The deal will also see the OGL Software division break away from the group to focus solely on its ERP business.Debbie Barton, CEO of OGL Software, said: "Our products/services and markets have diversified so much that we felt there was greater opportunity to realise our ambitious growth plans if we gave each division its own space to expand."But it was important that we found the right way to do that for all three divisions so when Wavenet approached us about the IT Services and Cyber Security part of the business, it presented the perfect solution."The acquisition will enable us to continue to grow our highly successful OGL Software business. Having been actively involved in the running of this side of the business for over 35 years, I am thrilled to be able to head up the newly independent operation as we embark on the next chapter."

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Author: Cowen)

Publish Date: 16/08/2022 14:46

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