London-based reseller Kelway is buying Panacea Services creating a combined business with a £140m turnover.

Panacea, formed in 1992, employs 110 people and specialises in HP and VMWare sales. It has a London HQ as well as offices in the Midlands, Edinburgh, Amsterdam and the United Arab Emirates.

Panacea's MD Peter Stroud will join Kelway's board of directors and will head up its solutions and services business.

Kelway's chief executive Phil Doye said Panacea's expertise in managed services and virtualisation would help cement its position as a leading mid-market reseller. Both companies are HP Gold partners - HP also welcomed the merger. ®

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