IT services provider 2e2 has increased its offering following the acquisition of a rival firm in a deal worth tens of millions of pounds.

IT services provider 2e2 has increased its offering following the acquisition of a rival firm in a deal worth tens of millions of pounds.

The Duke Street Capital-backed company added NetStore Plc to its operations after agreeing to pay £57 million for the business.

Netstore executive chairman Paul Barry-Walsh said the sale follows a strategic review that led its directors to believe that it will help the business grow in a way that it couldn’t independently.

2e2 made an offer for NetStore after Andeman Advisory Services provided a commercial due diligence review of the target company’s managed services business.

Andeman’s team was headed by associate director Neil Stanworth, who said the firm was appointed due to its experience of working with technology and outsourcing companies.

“A key requirement was to provide rapid and detailed analysis of its revenue forecasts and a broader assessment of the prospects for NetStore’s managed application services offerings,” he added.