FourNet has completed the acquisition of 01T, for an undisclosed sum.
The Manchester-based digital transformation and customer experience company said the strategic acquisition means it can offer end-to-end, fully resilient network connectivity and as a result, eliminate the need for 3rd party network aggregators.
“Integrating 01T’s core networking into FourNet’s cloud and ‘secure infrastructure’ platforms is an exciting prospect, and we are delighted to welcome the 01T team. Their skills, dedication, expertise and focus on customers will fit in extremely well at FourNet,” explained Richard Pennington, co-founder and CEO of FourNet, said:
“This, our latest strategic acquisition, builds on our growing network infrastructure offering and allows FourNet to provide an enhanced end-to-end service for our critical infrastructure and large enterprise customers who have resilient, reliable, global reach network requirements.
“Essentially 01T offers the ‘underlay’ connectivity to FourNet’s ‘overlay’ of communications, CX and cybersecurity managed services. Importantly, it also allows FourNet to view and manage the end-to-end network and gain more control of network implementation and support, where currently we are reliant on 3rd party network aggregators.”
01T was founded in 2009 in Brighton, initially focusing on managed services, before switching its focus to international network connectivity, which is now its main source of revenue. It designs, builds and manages high speed global networks and delivers connectivity and wide area network (WAN) services for organisations with critical reliance on resilient high performing networks.
The company’s customers include sports media and broadcast, online gaming and gambling, financial services and market analytics firms.
“There’s a great deal of synergy between our two companies and joining forces feels like a very natural fit. 01T has been on a very similar journey to FourNet and that’s why we feel this is the right time to become one company,” explained Alex Lower, founder and Managing Director of 01T.
“FourNet currently provides an incredible overlay for its customers, but if you are let down by 3rd parties, over which you have no control, when it comes to a fundamental component such as connectivity that’s going to damage your customer experience. Together we will ensure that customers have a first class overlay and a first class underlay and a seamless customer experience.”
FourNet currently has more than 200 employees, with offices in Manchester, London and Derby.
In 2021, Palatine Private Equity acquired a majority stake in the business and this is FourNet’s fourth acquisition in the last 3 years.
“Enhancing capability through strategic M&A is a key part of FourNet’s growth strategy. The acquisition of 01T adds a crucial network element to FourNet’s offering to customers and we are keen to support the group in making additional acquisitions in the future,” said James Painter, Senior Investment Director at Palatine Private Equity.
