Feeds

Calyx makes its move into the UK market

£2.5m foothold

Secure remote control for conventional and virtual desktops

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
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
XBOX One will learn to play media from USB and DLNA sources
Hang on? Aren't those file formats you hardly ever see outside torrents?
Class war! Wikipedia's workers revolt again
Bourgeois paper-shufflers have 'suspended democracy', sniff unpaid proles
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.