August 17, 2016

Nasstar acquires hosted managed services provider Modrus

The IT services provider acquired Modrus for £13.3 million

In their blog earlier this week, Nasstar announced the acquisition of Modrus. They acquired the UK-based firm on a cash and debt-free basis for £13.0m, comprising £11.7m cash and £1.3m in new Nasstar equity.

Edward Armitage, Managing Director, Modrus said :

We are extremely excited to be joining the Nasstar group and on a personal note, I am delighted to join the Nasstar leadership team and look forward to working with the team for many years to come.

Nasstar claims that the acquisition of Modrus is in line with their strategy to penetrate new vertical markets and build a resilient customer base.

Nigel Redwood, CEO, Nasstar said:

Modrus introduces three new target market verticals to Nasstar’s product suite — media, property services and ISVs whilst adding further penetration in financial services and recruitment. This acquisition represents a highly complementary fit with obvious synergies within licensing costs and data centre consolidation.

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