Modern Networks Ltd, an IT and telecoms provider to the UK’s commercial property market, has acquired fibre internet and telecoms services provider Bridge Fibre and MSP Response IT.
The combined business has a turnover in excess of £20m and will boost Modern Networks’ team to more than 150 employees operating from Hitchin, Manchester, Cambridge and Guildford.
Modern Networks founder and CEO Matt Reeve said that the acquisition of Bridge Fibre, based in Cambridgeshire, and Response IT, based in London and Surrey, will bring ‘additional breadth and capability’ across Modern Networks’ key service lines.
“By purchasing Bridge Fibre, we are able to continue our regional growth, expand our service portfolio and strengthen our ISP position,” he commented in a statement. “Bridge Fibre works closely with landlords of multi-tenanted commercial properties, particularly science and business parks, helping them to develop successful communities.”
Reeve added that Response IT will enable Modern Networks to expand its technical expertise and capacity in the South East & London, enhancing ‘all aspects of customer service’ with its complementary range of IT services, and shared common values including ‘a common belief in the importance of customer service and building a supportive workplace culture’.
Modern Networks is backed by private equity firm Horizon Capital, who acquired a majority stake in April this year.