Lanway adopts £6m IT firm
Burnley-based Lanway IT Solutions has acquired ProfileIT, the business-to-business division of Altham-based Cleverboxes.Cleverboxes will now focus on its B2C operation, retailing IT hardware and software throughout the UK and Europe, whilst its B2B operation, with around 1,000 active customers, will be taken on by Lanway.
ProfileIT is largely the result of a Cleverboxes acquisition last year and recorded a turnover of £6m, which will boost Lanway's total income to around £20m.The two had worked informally in the past, with ProfileIT reselling some of Lanway's services. Cleverboxes owner Vernon Yerkess will sit on ProfileIT's board, and seven staff will join Lanway as part of the deal.
Lanway managing director Andrew Henderson said he was optimistic about the deal, explaining that the companies have similar cultures but different customers lists with good potential for crossover. The value and details of the deal have not been disclosed.