24th Mar 2015 10:10
LONDON (Alliance News) - AIM-listed merchant bank MXC Capital Ltd Tuesday said it has decided to sell two divisions of Calyx Managed Services Ltd, the IT services company it acquired from Better Capital PCC Ltd earlier this year, for GBP5.6 million after carrying out a strategic review of the business.
The deals to sell Break Fix, the hardware replacement and support services division, and Carrier Services, the fixed line rental, carrier pre-selection and data circuits business, were managed by MXC Capital Advisory LLP, a subsidiary of MXC Capital Ltd.
Break Fix is being sold to formerly AIM-listed Daisy Group for GBP3.8 million, while Carrier Services is being sold to Chess Ltd for GBP1.8 million. MXC said that Calyx will now be able to focus on its hybrid cloud portfolio as well as professional and infrastructure services.
"These disposals bring back cash to MXC, whilst giving Calyx a clear focus on providing IT managed services to a diverse customer base, generating high levels of recurring revenue," Chief Executive Marc Young said in a statement.
MXC Capital shares were down 6.2% at 2.65 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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