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26 Apr 2010
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Newbury-based IT services provider 2e2 is to pay £70m in cash to acquire integrator Morse.
The announcement was made earlier today at the London Stock Exchange.
2e2's non-executive chairman, Eric Priestley, said: "There is an excellent fit between the two companies. [The deal] consolidates 2e2's position as one of the UK's leading vendor-independent IT services providers."
The new group will provide everything from managed services, hosting, unified communications, data management, security, business application solutions and “cloud computing”.
Priestley said he expected significant benefits to come from "cost synergies " and cross-selling opportunities within the enlarged customer base.
2e2's group turnover in 2008 was £194m, and it currently employs 1,300 staff, operating across the UK, Benelux, the Channel Islands and the Isle of Man.
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