Cancom to acquire Novosco Group for £70m.

Cancom, an IT service management company, agreed to acquire Novosco Group, an IT service provider based in Belfast, United Kingdom, for £70m ($88m). "Novosco's product portfolio extends our capabilities tremendously and the customers we serve complement each other perfectly. Virtually all Novosco customers have no business connection to us yet. In addition, the transaction gives us direct market access in Ireland for the first time, and around 300 specialist staff and a highly profitable business will join Cancom. We are very excited about this acquisition," Thomas Volk, Cancom CEO.