London-based technology provider Redsquid has increased its customer base to 850 organisations and extended its reach to the Oxford area with the acquisition of Triumph Technologies, an Oxfordshire-based managed IT technology provider with annual revenues of more than £1.5 million.
The acquisition, which advances the company’s buy and build growth strategy, was supported by a Growth Capital loan from Santander UK’s Growth Capital team.
Redsquid founders, CEO Sohin Raithatha and COO Vince Mignacca, will remain the only shareholders of the business, which they have grown organically and through two other acquisitions over the last 15 years.
Sohin Raithatha said: “We have had a close relationship with Triumph for years and followed its growth journey. It is well known for delivering exceptional service and technologies that change the way organisations work. The pandemic has set cyber-crime to new heights and the demand for cyber security technologies has grown alongside it. Through this acquisition we will become a fully managed service provider and keep up with the demand our customers have for digital transformation.“