Ocean Intelligent Communications has been sold to CANCOM
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is delighted to have represented the shareholders of Ocean Intelligent Communications Limited (“Ocean”) on the sale of a 82.1% stake in the business to CANCOM SE (“CANCOM”).
Ocean is a fast-growing digital transformation and managed services provider for unified communication, collaboration, cloud and networking infrastructure. Headquartered in London, Ocean works closely with its U.K. and international enterprise and mid-market clients to understand their digital strategies and then designs, implements and manages the optimal integrated IT and connectivity infrastructure, delivered through OceanCloud®.
Listed on the TecDAX and headquartered in Munich, CANCOM is a business-oriented IT solution provider, employing around 2,900 people worldwide and supporting clients across Europe and the United States.
The acquisition of Ocean represents a logical next step for CANCOM, extending its international footprint and offering growth potential in new markets. Ocean will also benefit from CANCOM’s customer reach and will be able to leverage its technology and service capabilities to accelerate its growth.
Lincoln acted as the exclusive financial advisor to the shareholders of Ocean. Working closely with the management team, Lincoln provided guidance on the strategic options available, prepared the Company for sale, and then managed the entire transaction process to a successful completion, including the negotiation of price and transaction terms.
Wayne Lloyd, CEO of Ocean, said, “Lincoln has done a fantastic job in navigating us through this process. Chris and his team provided us with clear advice and successfully articulated the Ocean proposition and its key attractions to the market. As a result, we secured a great outcome, both for the shareholders and the Ocean business going forward.”
Chris Brooks, Head of Lincoln’s UK TMT Group, commented, “This has been a hugely rewarding transaction for the Lincoln team. The quality of the Company coupled with our international reach meant we were able to generate significant interest from domestic and international IT managed services acquirers and the private equity community. The transaction represents another successful deal for our growing TMT practice, further cementing our position as a leading advisor in the IT managed services space globally.”
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