Streamwire has today acquired EACS to form a new, enlarged company with a stronger market offer of core IT services. The combined company will have revenues of just under £20m, and follows the acquisition in 2015 of specialist technology business, EvEnt Computer Services.
Kevin Timms, who co-founded Streamwire with Anne Stokes, will become the new CEO of the combined company, which will trade as EACS. Anne will remain on the board and lead the transition, but will also continue the development of wider business interests already underway. Commenting on the acquisition, Kevin said:
“Our acquisition of EACS provides the platform to take our business to the next level, expand into the cloud and cyber security spaces and take on the established IT suppliers. Both are award winning companies, with fantastic service and skills, and each brings different capability that will benefit our clients.”
“It is also an exciting time to be in the IT space as the industry goes through such a big change. The use of technology is becoming a driving force in nearly every sector. This change provides virtually all companies with big competitive opportunities, but also as we have seen recently, significant threats. Our acquisition means we have an even stronger capability to bring to bear to help our clients and companies achieve their goals and keep their data secure”
Streamwire and EACS are both established and award winning managed service providers that bring many synergies and opportunities for growth. The combined company will have a focus on professional and managed services in ‘core’ IT – cloud based solutions, cybersecurity and high quality, reliable support services. The two companies will be fully integrated and go by the name of EACS and be a wholly owned subsidiary of Streamwire Group.
Kevin Timms, has over 30 years of industry experience. With a long and successful senior management career within Ford Motor Company, he will take the lead at Streamwire and deliver on its plans for aggressive growth.
EACS represents the second significant acquisition for Streamwire as it expands its capabilities and customer footprint across the UK.
“The incredibly loyal customer base that both Streamwire and EACS have, combined with the rapid growth in cloud-based technology, provides a strong base from which the new company can grow. This is our most significant acquisition to date and a sign of the underlying strength of the UK tech scene. While the political changes happening in the UK have been concerning on some levels, investment in tech continues to increase and we can look forward to a strong future.”