Feeds

Articles about Ian Smith

channel_teaser_money_top

Hungry Ian Smith eats another slice of Accumuli

Buy-and-build specialist Ian Smith is upping its stake in Basingstoke-based managed security player Accumuli under a "put and call option". Smith entered into the buyer's arrangement in January 2010 to provide a war chest for acquisitions, which gave him the right to buy more than 7.4 million shares at a price of 6.5 pence – …
Paul Kunert, 21 Jun 2012

Cloudy firm Coms Plc coughs £9.5m for Redstone

The three-year restructuring at Redstone was effectively wrapped up today after management "conditionally" sold trading subsidiary Comunica for £9.5m in cash to LSE listed cloud-based telephony player Coms Plc. Under the terms of the deal, Coms will cough £7.65m on completion and a deferred consideration of £1.85m in the next 12 …
Paul Kunert, 05 Nov 2013
Redstone

Redstone scourged clean of black ink by rough passage to service-land

The first set of prelims from managed infrastructure player Redstone are out and they tell the tale of a business that is making the not-so-simple transition from old world reselling to an age when tech is bought as a service. This migration was not without its challenges for senior management, who in April spun out the managed …
Paul Kunert, 11 Sep 2013

Redstone's chief bean counter resigns as biz slowly dismantles itself

Networks integrator Redstone has revealed that its chief bean counter, Peter Hallett, has resigned in the wake of the demerger with its managed services arm. Back in February, Redstone confirmed plans to spin off its network managed services biz into a newly incorporated firm, Redcentric, a process that completed in April with …
Paul Kunert, 28 Jun 2013
Redstone

Project delays slam Redstone sales, profits fly as costs fall

The much-used phrase that revenue is vanity and profit is sanity is applicable to Redstone's half year numbers - the P&L was back in the black - helped by cost-cutting - but the top line was hammered. The managed services player has been in turnaround mode for the past couple of years since serial biz fixer-upper gurus Tony …
Paul Kunert, 11 Dec 2012
channel

Maxima brags of £6m deals to woo admirers

Managed services provider Maxima Holdings has flagged up to any potential buyers that it has bagged £6m worth of contract wins. The AIM-listed company erected a "For Sale" sign outside its London-based premises last year but talks with interested parties came to nothing, leading to a shakeup of senior management as M&A veteran …
Paul Kunert, 26 Apr 2012
channel

Maxima turns to M&A veteran after sale talks go stale

Maxima has hired buy-and-build specialist Ian Smith as a non-exec director in the wake of its failed attempt to sell the business. The London Stock Exchange listed managed services provider last week revealed that it had been unable to thrash out a deal with several interested suitors and that the offer period had lapsed. The …
Paul Kunert, 19 Sep 2011

Redstone throws £9.9m at sickly managed services firm in all-share deal

Cloud and network integrator Redstone made a bid today for troubled managed services provider (MSP) Maxima, valuing the firm at £9.9m. The all-share deal between the AIM-listed firms equates to a 38 per cent premium on Maxima's market cap. Including the MSP's net debt of £3.9m at the end of May 2012, the acquisition represents …
Paul Kunert, 17 Sep 2012
chart

Reseller loses veteran chairman and CEO in shake-up

Managed services and software reselling outfit Maxima has raised £2m through a rights issue to fund future development and as a precursor to offloading business units that are deemed "non-core" over the coming months. The LSE-listed firm hired M&A veteran Ian Smith last month after talks with interested buyers that began in …
Paul Kunert, 19 Oct 2011
channel

Better Capital's m-hance coughs £6.8m for Maxima units

Managed services provider Maxima has started to carve up non-core operations by offloading the Document Management, Intellect and Microsoft-reselling sub divisions to Better Capital-backed m-hance for £6.8m. Troubled UK-based Maxima's flirtations with admirers came to nothing, so bosses hired buy-and-build specialist Ian Smith …
Paul Kunert, 29 Feb 2012
fingers pointing at man

Networking integrator Redstone staggers back to its feet

Massive cost-cutting and restructuring activities have helped to reduce losses at networking integrator Redstone. The firm had featured highly on distributors' "at threat" list but during fiscal 2010 serial entrepreneurs Ian Smith and Tony Weaver took to the helm and rang in the changes, firing staff and flogging the Irish and …
Paul Kunert, 28 Nov 2011
channel

Integrator Redstone's accounts back in the black

The boss at network integrator Redstone reckons the turnaround plan initiated a couple of years ago is finally paying dividends as accounts returned to the black. The company had stumbled and looked likely to fall over in 2010 before biz rescue specialists Tony Weaver and Ian Smith pitched up in September that year. Smith and …
Paul Kunert, 19 Apr 2012
channel

Redstone looks to future after tough fiscal 2011

Networking integrator Redstone is hailing the return of its mojo after getting through a year of significant upheaval. Exiting markets, carving up operations and more than halving its workforce took a toll on financials in the year to 31 March 2010 as the firm notched up losses of £11m – albeit better than the £14.8m posted a …
Paul Kunert, 11 Jul 2011
Redstone

Sluggish banking sector brings us down, moans Redstone

Managed services outfit Redstone made little progress on the sales front in fiscal 2012 ended 31 March – albeit in a stagnating market – but it did come closer to breaking even, according to prelims. Turnover at the firm edged up just £100,000 in the year to £67.2m and it made an EBITDA of £5.2m compared to £1.1m in the previous …
Paul Kunert, 04 Jul 2012
Windows 8

Windows 8: Is Microsoft's new OS too odd to handle?

The big question. You are happily trundling along with Windows 7 and everything is fine. Should you upgrade to Windows 8, at Microsoft's tempting price of £24.99, or $39.99, for a downloadable copy? There is always the safe option of leaving well alone, but tell that to anyone who regretted installing Windows Vista and had to …
Tim Anderson, 24 Oct 2012
graph up

Storage Fusion on plumping up drive ahead of sale

Storage analytics service firm Storage Fusion is being fattened up for market. Storage Fusion is the personification in company terms of the storage analytics business inside Itheon, a UK firm acquired by Xploite in 2007. Itheon offered business service monitoring and various application. Xploite is a combination of venture …
Chris Mellor, 15 Jan 2010
The Register breaking news

Creative bath ad shocker

Creative Labs got in a bit of hot water recently over an advert showing a woman using a laptop, while immersed in, um, a bit of hot water. Having had their wrist firmly slapped by the advertising standards chaps, the spin-meisters at Creative Labs went into damage limitation mode. Unfortunately, their explanation for the …
Lucy Sherriff, 22 Apr 2004
The Register breaking news

Laptop + bath = death?

Oh boy - the letters on the Creative advert just keep coming. For those just joining us, this is the debate over the question of whether you could drop a laptop (battery-powered) into a bath occupied by a person without killing said person. The only conclusion it is safe to draw from all the various explanations is that (short …
Lucy Sherriff, 23 Apr 2004