Feeds

Calyx makes its move into the UK market

£2.5m foothold

The Essential Guide to IT Transformation

Calyx has bought ITS Technology Services, a UK-based voice and data networks firm, its third acquisition over the past four months and its first in Britain.

Calyx paid £2.5m (€3.68m) for the company, £1.88m of which is to be paid in cash with another £120,000 in shares. An additional £500,000 will be paid six months from the date of the acquisition if ITS reaches agreed revenue targets.

ITS provides voice and data services to the healthcare, publishing, emergency services and government market. Its clients include Associated Newspapers and the Gwent Healthcare NHS Trust.

"It has always been our stated intention, from the time of our IPO, to launch and develop in the UK market and the acquisition of ITS provides the ideal springboard from which to do this," said Maurice Healy, chief executive of Calyx, in a statement.

There will be no redundancies as a result of the acquisition and Calyx expects further growth as it expands its operations in the UK. Kieran Archer, the managing director of ITS and Andy McCathie, the sales director, will both remain with the enlarged company.

This is the third acquisition made by Calyx in recent months. Last week, Calyx acquired QCL, the Cork-based IT product and services company for €1.28m.

In July it acquired Convergent for €600,000 in cash. Convergent delivers professional services, including consultancy, project management, installation, and support of voice and data products to a range of business sectors. Convergent's clients include Citigroup, One Direct, American Holidays, Accenture and Norfolkline.

The acquisition was funded by the €10m Calyx raised from its float on London's AIM (Alternative Investment Market). At the time of launching on the UK-based equity market Calyx said it had earmarked part of the €10m to fund the expansion of its operations primarily through acquisitions in the UK and Ireland.

Copyright © 2005, ENN

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.