Innovise, an AIM-traded provider of workforce management software and managed IT services, has acquired Staines-based IT services firm Infrasolve, in a cash-and-shares deal worth £6.6 million.

Innovise, an AIM-traded provider of workforce management software and managed IT services, has acquired Staines-based IT services firm Infrasolve, in a cash-and-shares deal worth £6.6 million.

The acquisition is the latest and largest transaction made by the West Midlands-based firm. The company plans to combine Infrasolve with its Abilitec business, acquired in 2007, to provide IT service-managed services to large organisations.

Thomas Eggar LLP provided legal advice to the vendors. The team was led by Leon Arnold, partner, who oversaw the funding structure, which featured Infrasolve’s shareholders taking a significant equity stake in Innovise.

Arnold said, “The structure of taking equity, and also deferred payments, facilitated the deal going through. All parties seemed genuinely interested in working together on the deal and to grow the group going forward.”