Vannin Ventures, the Manx Telecom owned company which identifies new opportunities in the telecommunications and technology sector, has today acquired telecoms solutions specialist Partitionware.
Partitionware is an Isle of Man based company which supplies a wide range of innovative telecoms solutions to service providers around the world. The acquisition will support Vannin Ventures’ mission to deliver transformational growth by developing disruptive technologies and bringing innovative products and services to market.
Tom Meageen, Director at Vannin Ventures, said: “The acquisition of Partitionware is the first step in our strategy to build a company that will deliver new products, services and technology to the Isle of Man. I look forward to working with Mike and his team and growing our businesses by leveraging our combined technical and commercial capability.”
Mike Bromwich, CEO of Partitionware, commented: “We’re delighted to combine our industry leading technology capability with Vannin Ventures. Pooling our expertise ensures we are exceptionally well placed to continue growing and innovating in the market, which not only benefits new and existing customers, but the Isle of Man as a whole.”
Manx Telecom has launched Vannin Ventures, a new standalone business established to support the company’s long term growth strategy.
Manx Telecom CEO, Gary Lamb, explains: “Vannin Ventures is a new business, wholly owned by Manx Telecom, and its purpose is to identify new and promising business opportunities in the telecoms and technology sectors, acting as an incubator to bring innovative products and services to market. There will be an autonomous team behind the new business, who will not only have a new and creative environment to foster original ideas, but will also benefit from the support of its parent company, Manx Telecom. Most importantly, Vannin Ventures will have an entrepreneurial ethos with the flexibility necessary to move quickly and take exciting ideas from inception through to launch.”
Vannin Ventures is led by Tom Meageen and Peter Callow, who both have extensive experience in the communications sector. In his most recent role, Tom was responsible for setting up and running Manx Telecom’s international business which now forms a significant part of the company’s overall revenue, while Peter also brings a wealth of commercial telecoms business experience.
Tom Meageen commented: “Vannin Ventures will use technology to bring new products and services to market by providing the perfect incubator environment to help new ideas flourish and grow. The launch of Vannin Ventures is not only great news for Manx Telecom, it’s also positive news for the Isle of Man as it demonstrates the Island’s ability to innovate, whilst creating new jobs in the longer term.”