2nd Mar 2015 09:40
LONDON (Alliance News) - MXC Capital Ltd Monday said 365 Agile Ltd has completed its first acquisition by buying mobile working and systems product company South Views Solutions Ltd for GBP1 million.
MXC Capital is a core investor in 365 Agile with a 25% stake, and its advisory business advised 365 Agile on the deal. Castleton Technology PLC, in which MXC Capital is also invested, provides the sales channel, delivery and support to 365 Agile in the social housing sector.
365 Agile and South Views Solutions combined will have annualised run rate revenue of over GBP2 million, MXC Capital said.
"The acquisition of SVS is a key step in 365 Agile's strategy. This transaction opens up cross selling opportunities while further cementing 365 Agile's foot print in its core social housing sector. 365 Agile is exploring a number of opportunities to broaden its offering and to branch out into additional vertical markets," MXC Capital Chief Executive Marc Young said in a statement.
MXC Capital shares were up 5.0% at 3.10 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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