By DARA BUTTERFIELD
Virtual Street – the Aberdeen-based IT consultancy – has been taken over by oil and gas sector specialist ISN for an undisclosed sum.
This deal brings two complementary and culturally similar businesses together, and creates a team of more than 80 technical specialists across the combined business.
Earlier this year Aberdeen-based Maven Capital Partners, a 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.
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.”
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.”