Wavenet set to acquire AdEPT for £50.3 million

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Wavenet Group has had a £50.3 million offer accepted for the takeover of AIM-listed unified communications and managed service provider AdEPT.

Upon successful completion of the transaction, the combined business will become one of the UK’s largest providers of IT managed services, as well as cyber security, unified communications connectivity, and voice solutions, with revenues totalling more than £200 million.

In an announcement, AdEPT said the successful completion of the acquisition would mark an “exciting milestone” for the company, allowing it to provide additional high-value services to clients.

“Whilst we believe that the AdEPT platform can deliver long-term growth and profitability, we acknowledge the additional commercial benefits which could be obtained as part of a larger, well-funded group, and believe the combination of AdEPT with Wavenet will enable the next phase of AdEPT’s growth to be strongly supported,” said Ian Fishwick, chairman at AdEPT.

“Given the balance of future opportunities and risks, we are comfortable that the acquisition fairly recognises the medium-term prospects and growth potential of AdEPT as a standalone business and provides AdEPT shareholders with an immediate, certain, and attractive value in cash.”

Upon completion, AdEPT will integrate into Wavenet’s business structure - but it will be business as usual for customers, with its teams to continue as they are on a day-to-day basis.

The MSP says it is working to ensure there is zero impact on its customers and for the only changes to be positive ones, with access to more resources, greater capabilities, and new services via the larger business. The MSP’s existing portfolio will remain unchanged.

Formed in January 2003, AdEPT now employs around 340 staff across its nine UK offices in London, Tunbridge Wells, Northampton, Fleet, Chingford, St Neots, Dorking, Orpington, and Doncaster.

The firm’s Board has recommended the all-cash offer from the Wavenet Group, which is backed by investment bank Macquarie, for shares in the business, totalling approximately £50.3 million.

For Solihull-based Wavenet, the AdEPT offer marks the provider’s latest move in its expansion strategy and follows the acquisition of OGL Computer Support Holdings back in August 2022, which included its two subsidiaries OGL Computer Support and CyberGuard Technologies.


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“I am delighted to announce the combination of the AdEPT business with the Wavenet Group,” said Bill Dawson, CEO at Wavenet.

“I have huge respect for the leadership of Ian Fishwick and the significant achievements of the AdEPT team. They have created a leading AIM-quoted managed service provider delivering to a variety of top-tier clients including the NHS and the education sector.

“We look forward to working with the AdEPT team as part of the Wavenet Group and driving growth by focusing on the best of both Wavenet and AdEPT’s skills and services.”

Daniel Todd

Dan is a freelance writer and regular contributor to ChannelPro, covering the latest news stories across the IT, technology, and channel landscapes. Topics regularly cover cloud technologies, cyber security, software and operating system guides, and the latest mergers and acquisitions.

A journalism graduate from Leeds Beckett University, he combines a passion for the written word with a keen interest in the latest technology and its influence in an increasingly connected world.

He started writing for ChannelPro back in 2016, focusing on a mixture of news and technology guides, before becoming a regular contributor to ITPro. Elsewhere, he has previously written news and features across a range of other topics, including sport, music, and general news.