The Scottish information technology company Ping Network Solutions, founded in 2010 and employing 80 people, has been acquired by the Luxembourg group Sword Group.
IT group Sword, which has 430 employees and more than 100 contractors across its UK operations, said Ping’s 80 employees would be transferred to its operations. He noted that Ping, which he described as “an award-winning network and security systems integrator and managed services provider,” forecast revenue of around 13 million euros for 2022.
Ping, which is based in Bellshill in Lanarkshire and also has offices in Glasgow and Aberdeen, said it was “delighted” to announce it had been acquired by Sword Group, which it said “has a strong presence extended to the United Kingdom, and in particular to Scotland. ”. He added that he already had a “strong working relationship” with Sword in the energy sector.
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Sword noted that Ping designs, delivers, implements and provides ongoing support and management of networking solutions across a global customer base “spanning all major verticals including energy, financial services, education , public sector, manufacturing and construction”. He added that Ping had “high quality engineering expertise”.
Terry Neill, Technical Director of Ping, said: “Ping has a long-standing working relationship with Sword in the UK and is very pleased to join the Sword Group. Our experience in providing network and security solutions will complement Sword’s current service offerings. We look forward to continuing our growth within the Sword group.
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Dave Bruce, Managing Director of Sword UK, said: “I am delighted to welcome the Ping team to Sword. This agreement will allow us to offer a more complete range of solutions to our customers. The Ping team has an exceptional level of skill and experience in the field and are focused on delivering quality solutions – they will be a perfect fit for Sword.
He pointed to the “shared core values” of the two companies.