Walker Morris advises on sale of InTechnology Managed Services for £65m

A team of lawyers at Walker Morris, led by Debbie Jackson, Graham Mackenzie and Oliver Duke, has advised InTechnology on the sale of its subsidiary InTechnology Managed Services (IMS) to Redcentric for £65m.

Headquartered in Harrogate, IMS provides managed network, data, hosting and voice telephony solutions designed to help its customers transition from on-premise IT solutions to cloud-based managed services.

The sale is subject to the approval of Redcentric’s shareholders. The acquisition will be partly funded by way of a placing of 80 million placing shares at a price of 80p per share, with certain institutional investors to raise £64m and the remainder being financed by an increase in Redcentric’s existing banking facilities.