Altinet acquired by Arrow Business CommunicationsPrint news article
Walker Morris reinforces expertise in the cyber security market with latest transaction
Specialist corporate lawyers at Walker Morris have advised the founders of IT security and storage services, Altinet Limited, on the sale of their business to Arrow Business Communications Limited.
Based in Leeds, Altinet has over 400 customers and has deployed a range of cyber security and storage solutions into both the private and public sector.
Recently named the Barracuda EMEA partner of the year, due to the level of growth and success achieved in 2019, Altinet is well placed to take advantage of an ever more complex requirement for cyber security solutions to deal with the continued increase in cloud infrastructure and application adoption across all sectors.
Following the recent investment in Arrow by MML, Arrow is rapidly evolving its IT offering and the fast growing Altinet business provides an ideal first acquisition in the next phase of Arrow’s growth. All the Directors and employees of Altinet will be remaining and will work within the Arrow group.
Daniel Bailey and Henry Doyle, founders of Altinet, will continue to lead a number of key customer relationships and day to day activities.
Dan and Henry commented:
“We have been considering the best way to maximise the potential of our business and in Arrow we have found a great home for Altinet. As a Cyber Security specialist, we are excited to be joining the Arrow family and see this as the natural next step for the continued growth of the business. We are looking forward to working with Richard and the Arrow team in continuing to support our existing customers and working with Arrow customers through their security challenges”.
Commenting on the deal John added:
“This is a rapidly evolving industry in which Altinet has performed very strongly. We’ve established a strong track record in providing corporate legal advice to companies in the tech sector and we’re delighted to reinforce that expertise through our support to Dan and Henry.”
This latest transaction follows a strong performance for the Walker Morris Corporate Team in the tech sector. Recent experience includes advising Blue Logic on its acquisition by BCN, advising Servelec on a number of transactions including the sale of Servelec Technologies and Servelec Controls and the acquisition of C:Vision; and advising the founders and management of SiPM on its sale to Levine Leichtman Capital Partners (LLCP).