Claranet acquires Star in a deal valued at GBP55m
Claranet, a European managed service provider, has acquired Star, a UK provider of managed technology services.
The acquisition creates the largest mid-market provider of integrated hosting and network services in the UK and continental Europe.
Claranet is acquiring STH and its subsidiary, Star Technology Services, in a deal valued at GBP55m.
The trading entities will be maintained and will become wholly owned by Claranet.
Charles Nasser, chief executive and founder of the Claranet Group, says: “From a market and customer perspective, this is a great opportunity to bring together the experience and resources of two great companies to deliver a broader service portfolio to benefit our customers. It’s our mission to help our customers make the most of internet-enabled technology, and the acquisition of Star will enable us to continue to deliver on this promise.
“This announcement confirms our ambition to become the clear European leader in the delivery of managed services. This is nothing short of a British entrepreneurial success story, as both companies were founded here in the UK.”
Operating under the Claranet brand, the expanded company will have revenues of over GBP120m, circa 700 staff, over 4,500 customers, and operations in the UK, France, Germany, the Netherlands, Spain and Portugal. Claranet’s customers will include Airbus, Amnesty International, Care UK, Channel 5, Veolia, Signet, CSH, IRIS, De Vere Hotels and Richmond Events.
The new business will have a service portfolio ranging from the data centre to the desktop. In addition to managed hosting and network services which both companies provide to many customers, Star customers will be able to take advantage of Claranet’s pan-European Infrastructure-as-a-Service (IaaS) offering, Virtual Data Centre, as well as advanced managed application hosting services. Meanwhile, Star’s strength in Unified Communications, remote desktop and advanced security services will complement Claranet’s existing portfolio.
Ben White, co-founder of Star and a partner at the Cloud-focused venture investor Notion Capital, says: "The cultural and strategic compatibility of the two businesses is second to none and I am confident that the enlarged group will go on to even greater things, creating significant opportunities for customers, partners and staff.”
The Royal Bank of Scotland (RBS), Ares Capital Europe and a minority investment by Abry Partners financed the acquisition.
Advisers on the transaction are Oakley Capital, acting for Claranet, and Ernst & Young, acting for Star.
- By Category
- News from other sites
- Special Reports