Channel Island IT consultancy C5 Alliance Ltd. has acquired Jersey based integrated IT solutions company Cronus Ltd.
Cronus will remain focused on software products and cloud services, but is now a wholly owned subsidiary of C5. There will be no disruption of service to any Cronus or C5 Alliance clients, all Cronus maintenance contracts will be honoured and will be delivered using the combined skills of both organisations’ staff going forward.
All staff across C5 Alliance and Cronus will remain employed following the acquisition and the two companies will retain separate names and identities.
Mark Loane, CEO of C5 Alliance commented that there is a strong crossover in core values between the two local companies.
“They are both client-focused organisations which we believe will have great synergy. The acquisition of a company like Cronus, which has a team of high quality developers, will allow us to increase the capacity of the C5 business solutions team and, in turn, our offer to our client base.
“Cronus’ extensive experience in the development of regulatory and supervision systems for financial services regulatory bodies is a perfect complement for C5’s work on the delivery of e-government solutions,” said Mr Loane.
Christos Valerkou, founder, Cronus said:
"At Cronus we have always aimed to put our clients' needs in the centre of everything we do and C5 has that same unceasing client-focus. We believe that the synergies, experience and qualities of the two companies will complement each other and provide a platform to deliver exciting new products and services to our combined client bases in the Channel Islands."