Macquarie-backed WaveNet completed the acquisition of AdEPT Technology Group for £50m.

Macquarie-backed WaveNet, a provider of telecoms and technology solutions, completed the acquisition of AdEPT Technology Group, an independent provider of managed services for IT, unified communication, connectivity, voice and cloud services, for £50m. "I am delighted to announce the proposed combination of the AdEPT business with the Wavenet Group. 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. 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. I am also grateful for the support of AdEPT's largest shareholder, Christopher Kingsman, who has been very supportive of this proposed transaction since the beginning," Bill Dawson, Wavenet CEO.