By Ian McConnell
SCOTTISH information technology company Ping Network Solutions, which was founded in 2010 and employs 80 people, has been acquired by Luxembourg-based Sword Group.
IT group Sword, which has 430 staff and more than 100 contractors in its UK business, said all of Ping’s 80 employees would be transferring over to its operation. It noted that Ping, which it described as “an award-winning network and security systems integrator and managed service provider”, forecast a revenue of about €13 million for 2022.
Ping, which is based at Bellshill in Lanarkshire and also has offices in Glasgow and Aberdeen, declared it was “excited” to announce it had been acquired by Sword Group, which it noted “has an extensive presence in the UK, and particularly in Scotland”. It added that it already has a “strong working relationship” with Sword in the energy sector.
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Sword noted Ping designs, supplies, implements and provides the ongoing support and management of networking solutions across a global customer base “spanning all major market verticals including energy, financial services, education, public sector, manufacturing, and construction”. It added that Ping had “high-quality engineering expertise”.
Terry Neill, technical director of Ping, said: “Ping has a longstanding working relationship with Sword in the UK and is very excited to be joining the Sword Group. Our experience in delivering network and security solutions will complement Sword’s current service offerings. We are looking forward to furthering our growth within the Sword Group.”
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Dave Bruce, chief executive of Sword UK, said: “I’m delighted to welcome the Ping team into Sword. This deal will allow us to deliver a more complete range of solutions to our customers. The Ping team has an exceptional level of skill and domain experience and is focused on delivering quality solutions – they will be a great fit within Sword.”
He flagged the two firms’ “shared core values”.
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