3. CSI
Size: £50m revenue
Acquirer: Park Place Technologies
When: May
Rationale
Acquiring CSI thrusts Park Place to the “top of the food chain”, one of its top execs told IT Channel Oxygen following the deal.
US-based datacentre support giant Park Place acquired CSI in May following a turnaround mission at the £50m-revenue, Birmingham-based IBM partner.
Ranking 101st in the recent Oxygen 250, CSI was forced to perform a debt-for-equity swap in September 2023 after spiking interest rates left it unable to service its debts.
CSI typically works “higher up the stack” than Park Place, meaning it complements Park Place’s existing UK managed services business, David Cramer, President, Solution Delivery at Park Place said.
“They’re doing larger hybrid cloud services, larger enterprise services, application monitoring, security services, backup and recovery services. So those are all very complementary to what we offer,” he explained.
What they said
“We were looking to be acquisitive, and they were looking to be acquired,” – David Cramer, President, Solution Delivery at Park Place
Noteworthy nugget
On its website, CSI reassures visitors that “no we’re not that CSI of crime scene investigation fame”. Its team “will forensically analyse your IT infrastructure and diagnose a cause of failure or weakness”, it quickly adds, however. Nice!
Which 2 acquisitions were bigger? See next page…
