Wragge & Co's Corporate team has advised on the sale of cloud services provider Intercept IT Limited to Alternative Networks plc. A team led by partner Baljit Chohan advised the vendors on the deal, worth £13 million.

Intercept IT is a leading UK cloud service provider and, since 2002, the management team has grown the business into an established provider of Hosted Desktop solutions to the SME market. The sale will enable Alternative Networks to broaden its range of IT services and provide it with a vehicle to deliver additional cloud services.

Baljit Chohan said: "This deal means a better service for Intercept and Alternative Network's customer bases. The deal highlights Wragge & Co's expertise in the tech sector. Technologies such as cloud computing are increasingly central to running efficient, 21st century businesses and advising on deals like this means we are well placed to capitalise on opportunities in this sector."

The Wragge & Co team advising on the deal also included solicitor Caroline Magor and associate Patrick Allan from the Tax team. Bird & Bird acted for Alternative Networks.

Ian Readman, CEO of Intercept IT said: "The team from Wragge & Co demonstrated insight throughout this deal, and a thorough understanding of the sector and the issues relating to the sale of the business."

Wragge & Co's corporate practice specialises in public takeovers, mergers and acquisitions, private equity, IPOs, joint ventures, share schemes, complex corporate structuring, funds and tax. Its clients range from owner-managed private companies to FTSE-listed major corporates.

This is the second deal in two days for the team, coming hot on the heels of the reverse take-over of AIM listed Nasstar plc. 2013 highlights include the £85 million management buyout of specialist outdoor retailer Mountain Warehouse and the £183 million sale of Rosemont Pharmaceuticals by CBPE Capital LLP to Perrigo.