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For almost 25 years, SLIB has been a reliable partner to the financial industry, in step with the changes in the European securities landscape, by offering its customers innovative software solutions to streamline their securities processing and improve their performance, whilst mitigating their risks.
Adapt, the independent IT managed services provider, has announced that it has entered into a definitive agreement to acquire eLINIA, one of the fastest growing premier IT infrastructure outsourcing specialists in the UK. Based in Cardiff, eLINIA was founded in 2004 and now delivers extremely high quality, secure infrastructure services to many of the UK’s most established organisations across a range of industries.
With an enterprise value of £13 million, eLINIA is the first of a new wave of acquisitions that will drive Adapt’s medium-term growth strategy, firmly cementing its position within the UK managed services market. The combined annual turnover of the blended company will exceed £50 million.
The cost and convenience of cloud-based services has driven strong market growth in recent years; Adapt in turn has experienced increased demand for its flexible managed services business model and leading edge cloud delivery platform. With an annual turnover of £36 million, Adapt’s customers include Cubic Transportation Systems, Last.fm, LOVEFiLM, LCH.Clearnet and PKR. In September 2011, Adapt received £30 million in funding from independent private investment house Lyceum Capital Partners to support Adapt’s aggressive growth targets.
eLINIA’s capability, outstanding reputation and impeccable operational track record will further strengthen Adapt’s technical expertise, drive innovation and revolutionise customer service across the organisation.
Access to new high quality data centre facilities in Cardiff, Newport and Slough will also offer extra diversity for Adapt customers, who can now choose to base their primary IT or disaster recovery operations in those facilities or in Adapt’s data centres across London and the South East. Similarly, eLINIA’s customers will benefit from access to Adapt’s extensive service portfolio, including its award-winning Enterprise Virtual Data Centre (eVDC). From a vertical perspective, eLINIA’s proven track record in delivering highly secure managed services to complex sectors such as finance, healthcare and government will be very valuable to Adapt as the organisation expands.
“This is an exciting move for us, from both an employee and customer perspective,” said John Jones, CEO of eLINIA. “Adapt is a perfect fit for eLINIA and provides a fantastic platform for us to continue to do what we are best at - but on a far larger scale. Our customers trust us to deliver deep technical expertise, continuous innovation, outstanding customer service and security - we know that Adapt will only add value to these long-term relationships.”
“We are delighted to be joining forces with eLINIA,” said Stewart Smythe, CEO at Adapt. “Our ongoing strategy is clearly focused on becoming the UK’s go-to provider of pure play managed IT services - this acquisition will give us the scale, strength and breadth of offering to accelerate this journey. eLINIA is a small but perfectly formed premium infrastructure outsourcing business, renowned for its commitment to quality, security and customer focus, so together we’re going to make something pretty special happen in the market as we look to grow our business dramatically over the next in 2-3 years.”