Boston Networks has bought Pinacl, a provider of ICT infrastructures encompassing the IoT, smart buildings and cities and major fibre optic networks supported by Aliter Capital LLP, a private equity fund.
The deal brings together Pinacl and Glasgow-based Boston Networks – establishing a major player with full design, installation, management and support capability across the areas of network infrastructure, smart buildings, Internet of Things (IoT), physical security and life safety systems.
Boston Networks recently launched the pioneering £6m IoT Scotland, the UK’s most-advanced IoT network after being chosen to lead the commercialisation of IoT across Scotland – a project part-funded by the Scottish Government. Pinacl has also experienced significant success within this dynamic market, with recent wins including the building of a world leading intelligent street lighting solution for Aberdeen City Council utilising the latest IoT technologies.
The deal was advised by RSM’s corporate finance team including James Wild, Rikesh Patel, Ben Everson and Christian Hitchen advised the management team at
Rikesh Patel, associate director at RSM, said: “The strategic deal brings together two of the fastest growing UK IoT businesses that share a real synergy in approach and ambition. The increased service offering and capability supports the commercial aims of both businesses, which provides the perfect platform to maximise the opportunities in this buoyant sector.”