Digital Energy Journal- ISN targets UKCS growth with Aberdeen acquisition

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ISN targets UKCS growth with Aberdeen acquisition

Wednesday, November 26, 2014

ISN has acquired Aberdeen IT consultancy, Virtual Stream, for an undisclosed sum.

The specialist information and communications technology (ICT) services firm, headquartered in London, is enhancing its oil and gas expertise and presence by establishing an operation in the heart of Aberdeen, through this acquisition.

ISN works with oil and gas companies at every stage of their asset or business maturity, and delivers high performance ICT solutions and services that power companies from head office to well site, both in the UK and internationally.

Virtual Stream specialises in the design, configuration and support of enterprise ICT infrastructure - especially Citrix, VMware and Microsoft applications - and will be fully integrated into the ISN business with effect from January 2015.

This strategic acquisition brings two complementary and culturally similar businesses together, broadening and deepening the service offering to existing clients and creating a team of more than 80 technical specialists across the combined business.

Earlier this year Aberdeen-based Maven Capital Partners, a leading provider of private equity to the energy services sector, backed the growth of ISN in a £4.6 million deal that saw former Nessco founder Tom Smith join the firm as chairman.

ISN is led by a management team with significant sector expertise which has enabled the business to differentiate itself as an oil and gas specialist and which offers a distinct advantage to its client base.

ISN offers a range of IT services, from strategic advisor and project management, which often involve the design and installation of the entire ICT solution, to the day to day administration of managed services, including remote monitoring and service desk functions.

David Greenwood, managing director of ISN, said: 'This deal brings two businesses with strong and complementary cultures together, positions us within the UK's oil and gas centres and provides considerable benefits to our current and future clients. We believe there is a strong appetite for an organisation of our scale and substance in the market and we look forward to providing our collective client base with an expanded service offering, as well as winning new business by being based in the granite city.'

Virtual Stream founder Russell Robertson said: 'There is a natural fit between the two businesses and our respective clients and partners, which will facilitate integration and the expansion of our service offerings. The team here is looking forward to growing market share in Aberdeen as part of ISN, drawing on our strong technical backgrounds and understanding of the needs of oil and gas.'

Ewan MacKinnon, investment director of Maven, said: 'We are very pleased with the acquisition of Virtual Stream. It will enhance ISN's capabilities and extend their client base to include additional companies in Aberdeen, an important market for future growth.

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