Redstone Acquires Tolerant Group of Companies

Redstone has completed the acquisition of Tolerant Systems Ltd, Net-Adept Limited, Net Quest Solutions Limited and Trent Datacomms Limited (together the “Tolerant Group of Companies”), some of the UK’s leading providers of Network Security Solutions.

Tolerant is a Network Management, Monitoring, Analysis and Security Provider and has the exclusive rights to sell Computer Associates’ anti-virus and anti-spyware products to larger businesses in the UK. As such, it enables Redstone to offer an additional range of highly valued services to its customers in partnership with one of the world’s largest IT management software providers. The Tolerant Group of Companies will be integrated into Redstone Managed Solutions, an operating division of Redstone plc and will greatly enhance this division’s market proposition. The Tolerant Group of Companies are based in Stoke on Trent and have a total of 36 employees.

The Tolerant Group of Companies’ management team will remain with the business and report into Tariq Saied, MD Redstone Managed Solutions. The current major shareholder and MD of Tolerant, Nick Tunstall, will remain with the business for up to six months to assist with a smooth integration with Redstone.

Martin Balaam, CEO Redstone commented, “This is an excellent move for Redstone Managed Solutions, not only does it add necessary scale to this business but Tolerant also brings additional skills into the division. There are also significant cross selling opportunities as Redstone looks to sell the Network Security products across the whole Redstone customer base. We welcome onboard the Tolerant team and look forward to working with them.

“This acquisition combined with the offer for Symphony Telecom Holdings plc, which was declared wholly unconditional yesterday, represents the initial stage of Redstone’s stated strategy to become one of the leading IT and communications solution providers in the UK and Ireland. As such Redstone will continue to look for other earnings enhancing acquisitions in this rapidly consolidating market place.”

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