Vysiion completes acquisitions with BGF funding30th March 2015
Chippenham-based communications and IT service provider Vysiion has completed two acquisitions after securing £4m from the Business Growth Fund (BGF).
The business, formerly known as RFL Communications, has used the funding to acquire two IT companies. They are IT Solutions 4 Business in Chippenham and Plymouth-based Zantra Technology. The combined group now employs 90 staff and plans to focus on securing larger local and central government contracts, in addition to its traditional business.
Bruce Brain, executive chairman of the Vysiion Group, said: “This investment helps us to bring together these three companies to create one of the leading tier two companies supplying cloud-based managed services for computing and communications systems.
“BGF’s funding was a key part of this. They have invested in other companies in our space, know our channel partners and most fundamentally provided the equity injection that was required to bring these businesses together.”
As part of the investment, BGF investment director James Austin will join the board of the company as non-executive director.
Isca Ventures acted as the lead advisor to Vysiion for the BGF funding and acquisitions.
Source: Insider Media. Access the full article here.