SysGroup PLC - Liverpool-based IT services and cloud-hosting provider - Buys Truststream Security Solutions Ltd, a managed cyber security services provider based in Edinburgh, Scotland. The acquisition worth £4.8 million will be funded from Sysgroup’s existing cash balance and a new revolving credit facility of £8.0 million, the Liverpool-based firm says. In the financial year ended September 30, 2021, Truststream generated a pretax profit of £800,000 and revenue of £3.2 million.
‘The addition of Truststream to the group further supports our stated strategy to become the leading provider of managed IT services to the UK mid-market,’ says Sysgroup Chief Executive Officer Adam Binks.
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