Articles about Mbo

Jump for joy. Pic: Kate Palana

Intrinsic: We have no CEO. Otherwise everything is tickety-boo

Cisco Gold partner Intrinsic Technology has confirmed it is CEO-less - which Reg readers already knew - but that all is OK, everything is working out as planned. Honestly. As revealed by us this week, the Merseyside-based reseller has burned through four leaders in five years with the latest departure – Mark Bates – having …
Paul Kunert, 23 Jun 2016
Michael Dell, photo: Dell

Michael Dell bought his PC biz for a bargain, must get checkbook out for stiffed shareholders

A small number of former shareholders in Dell could be getting a sizable payout after a Delaware court ruled the IT biz was undervalued when it went private. Delaware Vice Chancellor Travis Laster ruled that the fair price for the company's shares at the time it went private was $17.62 per share, 22 per cent more than the $13. …
Iain Thomson, 31 May 2016
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Hungry UK services slinger swallows hosting biz for £65m – sources

UK managed services slinger Pulsant has agreed to fork out £65m for data centre and hosting biz Onyx, multiple sources close to the situation have claimed. A "for sale" sign was erected outside Onyx’s Stockton-on-Tees HQ in January and the process was managed by Deloitte, as we exclusively revealed. “The deal is done,” said …
Paul Kunert, 26 May 2016
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Microsoft licensing giant yanked off market after sales bid fails

The sales process for Microsoft enterprise licensing house Comparex is "ongoing", the parent company has told us, denying claims from multiple industry sources it is dead in the water. The Raiffeisen Banking Group-owned reseller hired investment banker Jefferies to manage a sales process in May and by September just two …
Paul Kunert, 15 Apr 2016
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Microsoft seller Trustmarque seeks private equity sugar daddy

Exclusive Trustmarque is erecting a for sale sign outside corporate HQ as the management team looks for a new private equity backer to fund a buy-out. The volume licensing reseller-cum-managed services outfit is currently backed by Endless LLP, which swooped for the York-HQ’d business when it faced well publicised cash-flow challenges …
Paul Kunert, 12 Feb 2016
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Onyx to erect 'for sale' sign outside corp HQ, say sources

Data centre and hosting slinger Onyx will erect a "for sale" sign outside its Stockton-on-Tees HQ in 2016, and the expectation from multiple sources is this will happen sooner rather than later. The private equity-backed business is working with adviser Deloitte to run the sale but as yet no Information Memorandum has been …
Paul Kunert, 19 Jan 2016
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Comparex: Just two buyers left in sales negotiations

Microsoft reseller titan Comparex has whittled down its list of prospective buyers to just two, The Channel can reveal. A sales process for the pan-regional reseller began some months ago with investment bank Jefferies sending out a commercial prospectus or Information Memorandum. Sources in the investment community told us …
Paul Kunert, 18 Sep 2015
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Four CEOs in four years at Intrinsic Tech. How's that working out?

Intrinsic Technology isn’t giving backer RJD Partners a clear exit path after woeful financials showed the business is moving backwards – still, this is the havoc you can wreak when you swap four CEOs in as many years. The infrastructure services outfit staged a management buy-out in the summer of 2011 led by then CEO Mike …
Paul Kunert, 17 Sep 2015
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Attenda for sale this year? Not on your nelly, says CEO

App hosting and co-lo slinger Attenda was expected to be put up for sale by owner Darwin Private Equity later this year, but postponed the process, and it’s latest financials perhaps explain why. The venture capitalist backed an MBO of Staines-based Attenda in 2011 for £50m and multiple sources told us in May that it had eyed up …
Paul Kunert, 19 Jun 2015
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Daisy Group: Yep, we're gonna eat you all up, Phoenix IT Group

Directors at Phoenix IT Group are “unanimously” backing the 160-pence-per-share offer that was formally made by Daisy Group this morning, valuing the entire share capital at close to £135m. Discussions between LSE-listed Phoenix and the suitor were made public last week, leaving Daisy 28 days to come back to the table with a …
Paul Kunert, 27 May 2015

Wanna buy a software reseller? Comparex big enough for you?

The Austrian parent of enterprise licensing specialist reseller and tech provider Comparex has hired an investment banker to sell the business, The Channel can reveal. According to multiple sources, Raiffeisen Bank has called on Jefferies to find a buyer, the formal process has started, and an Information Memorandum is being …
Paul Kunert, 22 May 2015

Node4 buys app developer and cloud purveyor Reconnix

Lloyds Development Capital-backed Node4 has snapped up non-proprietary application development and professional services outfit Reconnix. The bolt-on buy of the Newark-based minnow will serve as the open source division for Node4, which provides co-location from four DCs that it operates, and managed tech and comms services to …
Paul Kunert, 30 Mar 2015

All change at top of distie EntaTech as veep Atherton splits

EntaTech veteran and veep Jon Atherton is leaving the business today for pastures new, with industry old timer Dave Stevinson stepping into the role. Atherton has been with Enta for more than 22 years, half his life, and the company insisted it was his decision to quit the position to take “time out with his family”. Founder …
Paul Kunert, 06 Mar 2015

Ailing Calyx Managed Services flogged to MXC Capital for £9m

Private equity fund Better Capital has offloaded troubled Calyx Managed Services to tech investment and advisory house MXC Capital for £9m in what signifies a likely break-up of the biz. VC veteran Jon Moulton’s Calyx MS came on the market before Christmas, with corporate financier Rickitt Mitchell & Partners distributing an …
Paul Kunert, 23 Feb 2015

US reseller titan buys minority stake in Kelway MBO – sources

Exclusive One of the largest US resellers, CDW, has crossed the Atlantic to take a minority stake in mid-market focused tech supplier Kelway, The Channel can reveal. OOPS! The sales process began in earnest back in January when Kelway appointed US investment bank William Blair to put together a 97-page Information Memorandum and …
Paul Kunert, 06 Nov 2014

Trustmarque: £2m profits evaporated after accounting change

A change in revenue recognition wiped £2m off Trustmarque’s profits according to the firm’s strategic and financial report, which also provides more details on its near-collapse and subsequent sale to Liberata. As revealed, the York-based enterprise software licensing biz ran into cash flow difficulties last month after changing …
Paul Kunert, 09 Oct 2014

Trustmarque sold to biz process outsourcing specialist Liberata

Business Process Outsourcing biz Liberata has swallowed troubled Microsoft enterprise partner Trustmarque for an undisclosed sum. The solvent sale was concluded late last night, avoiding the need for the York-headquartered reseller to call in the administrators, something that seemed liked a possibility 10 days ago when issues …
Paul Kunert, 11 Sep 2014
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Suitors line up to bid for cash-challenged NHS supplier

Top brass at Trustmarque Solutions are locked in talks with interested parties in a bid to sell the financially challenged biz this week – at least that is the plan. As exclusively revealed by us earlier this week, Dunedin, private equity backers of the York-based licensing specialist, claimed a change in revenue recognition …
Paul Kunert, 04 Sep 2014
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Capita says bye-bye to Updata bigwigs: Been good slurping you

Crapita Capita IT Services is bidding farewell to the boss of acquired broadband network service provider Updata as it slaps the operation together with the exiting Network Managed Services (NMS) division. Surrey-based Updata was acquired for a tasty £80m on April's Fools Day. The exit of Richard Bennett, who was at the helm of …
Paul Kunert, 18 Jun 2014

Entanet calls on equity firm Mobeus to back £14m MBO

Wholesale internet connectivity services provider Entanet has completed a £14m managed buyout with the backing of private equity firm Mobeus. MD Elsa Chen, financial director Ian Brewer and sales director Stephen Barclay were involved in the deal that saw the VC stump up £6m to invest in workforce (currently 85 heads) and …
Paul Kunert, 21 Feb 2014
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Capita closing in on public WAN player Updata

Top brass at Surrey-based broadband network services player Updata Infrastructure UK are understood to be mulling over a leading offer from Capita, sources have told us. As The Channel revealed last November, public sector player Updata confirmed it was locked in "active" discussions with a bunch of interested parties. People …
Paul Kunert, 14 Feb 2014
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Dimension Data hoovers up NextiraOne's Euro operations

Dimension Data has hoovered up certain subsidiaries of comms and networking integrator NextiraOne after the deal was given the green light by the European Commission's Mergers and Acquisitions team. The cash terms were not disclosed but initially Di Data will swallow 13 Euro country operations – including the UK – and, dependent …
Paul Kunert, 04 Feb 2014

Trustmarque swallows Scot services house Opin Systems

Top table Microsoft Gold partner Trustmarque Solutions has devoured Glasgow-based tech services and consultancy minnow Opin Systems for an undisclosed sum. Opin, which set up in 1990, counts some heavy duty customers on its books including the UN, The Student Loans Company, The Scottish Prison Service and RBS. It sells …
Paul Kunert, 09 Dec 2013
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How much? Who knows. EC gagging order on DiData acquisition continues....

Dimension Data will only chow down on the entire European organisation of NextiraOne once certain sales criteria are met, the South Africa-HQ'd NTT-owned integrator whispered to us as the European Commission comms blockade continues. Acquisitive DiData has emerged as a suitor of the comms and networking reseller NextiraOne but …
Paul Kunert, 04 Dec 2013
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DimensionData tables bid to swallow global services biz NextiraOne

NTT-owned DimensionData has tabled a bid for comms and networking reseller NextiraOne in a deal that is currently awaiting approval by the European Commission's Merger & Acquisitions office. A spokeswoman at South Africa network integrator DiData confirmed that it had "made an offer" but was unable to make any further …
Paul Kunert, 02 Dec 2013
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Brit IT veteran Kelly takes job at investment advisory firm

A British tech biz veteran and former bigwig at integrator Logicalis UK, Tom Kelly, has landed at mid-market M&A and debt advisory firm Livingstone. He joins Livingstone as IT and managed services sector advisor to help further boost its presence in Blighty's tech space, perhaps a sign of the local market's improving fortunes. …
Paul Kunert, 09 Oct 2013

Management buyout at Hamilton Rentals AGAIN

Hamilton Rentals is again a privately owned channel biz after the management team led a buy-out from previous proprietor Xchange Technology Group. The leasing outfit was consumed by Compel in 1996, which was itself flogged to 2e2 in 2007, before Hamilton top brass performed an MBO in 2008 and sold up to XTG in 2011. So far so …
Paul Kunert, 13 Aug 2013

Trustmarque completes £43m MBO

Management at Trustmarque Solutions (TMS) have completed a buy-out of the business for £43m with the financial backing of mid-market private equity specialist Dunedin. The MBO was headed by CEO Scott Haddow and sales and marketing director Angelo di Ventura, a pair that were brought on board by previous VC partner Lloyds …
Paul Kunert, 10 Jun 2013

Management gobble food-tracing-by-Microsoft firm Anglia

The management at Anglia Business Solutions has completed a £6m buyout of the Cambridge-based Microsoft Gold partner. The team behind the MBO was led by Group CEO Robert Frost and the funding was stumped up by the execs, alongside WestBridge Capital, The Co-Operative Bank and a US VC group. Frost said in a canned statement the …
Paul Kunert, 14 Dec 2012
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Logicalis UK boss Tom Kelly to stand down in New Year

Logicalis veteran UK MD Tom Kelly has confirmed he is stepping down in the New Year. "Ten years is a long time," he revealed to The Channel. "It is time for a change and to face new challenges." The exec is helping with succession planing but is due to hand over control to the next UK boss at the end of February when Logicalis' …
Paul Kunert, 28 Nov 2012
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Stone's veteran CEO Bird flies the nest

Stone Computers has confirmed that longstanding chief exec James Bird has left the building. The search for a successor is well underway but these are big boots to fill - Bird founded Stone in 1991 and has been pretty much at the helm ever since, save a year's absence in 2005. That was the year Bird sold the business to the …
Paul Kunert, 12 Oct 2012

VC plans to flog or float public sector biz Civica next year

Private equity backers of public sector services and software player Civica are reportedly gearing up to punt or float the business early next year. Venture capitalist 3i is reviewing its options, says the FT. This comes more than four years after 3i forked out £190m to take the one-time AIM-listed operation private. Investment …
Paul Kunert, 03 Oct 2012
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Daisy Group plans to keep buying up biz, despite hole in purse

Acquisition-hungry business comms provider Daisy Group plans to continue hoovering up firms despite posting significant operating losses for the third consecutive year. Sales for the 12 months ended 31 March 2012 were up 31 per cent to £348.6m, including a chunk of revenues from the businesses it acquired over the past year: …
Paul Kunert, 20 Jun 2012
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Computacenter bigwig dethrones older brother to head up Camwood

Fresh from its MBO, application portfolio management firm Camwood has lured Computacenter (CC) alliances director Adrian Foxall to move across as CEO. The board of the London-based Camwood bought out backers Matrix Partners and Foresight in April, some nine years after the venture capitalists first invested in the business. …
Paul Kunert, 14 Jun 2012
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Blighty's largest iPad reseller formed in biz gobble deal

Exclusive London-based reseller Trams Group has snapped up the UK operations of Cancom from its German parent Cancom AG for an undisclosed sum. This is the second acquisition the Apple Authorised reseller has made - it took over Rapid Group in 2008 - since directors Warren Peel and Alex Page led an MBO nearly nine years ago. The reseller …
Paul Kunert, 16 Mar 2012
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Intrinsic Technology boss Mason exits

Updated: Intrinsic Technology bigwig Mike Mason has left the unified comms and cloud reseller less than eight months after leading a management buy-out. Management handed the princely sum of £30m – with the backing of by venture capitalist RJD Partners – to founder and majority shareholder Allan Gauld in July, with Mason remaining in the …
Paul Kunert, 02 Mar 2012
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RMS swallowed by Pinnacle Telecom

Bosses at Redstone Managed Security (RMS) have sold up to cloud provider Pinnacle Telecom for £468,000, less than half the value of the deal they struck in an MBO last December. At the tail end of 2010, RMS management sealed a £1m bid for the security reselling and services outfit with previous owner Redstone – including £500, …
Paul Kunert, 10 Oct 2011
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Dragons Den Jones to offload Data Select to management

Dragons Den star Peter Jones is understood to be in talks with the management team at Data Select to sell the mobile distributor, according to industry sources. The empire got a bit smaller this week as Jones flogged his machine-to-machine (M2M) comms specialist Wireless Logic to mid-market private equity firm ECI Partners for £ …
Paul Kunert, 19 Aug 2011
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Dell: Force 10 is 'shot in the arm' for networking

Dell has described the acquisition of Force 10 Networks as a requisite "shot in the arm" to beef up its networking portfolio for both resellers and direct sales staff. The Texan titan chalked up yet another acquisition yesterday – due to close in the late summer – as it re-engineers the business from a PC maker to a broader …
Paul Kunert, 21 Jul 2011
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Intrinsic Technology flogged to management for £30m

Intrinsic Technology chief exec Mike Mason has led a management buy of the Merseyside-based reseller backed by venture capitalist RJD Partners. In a statement, Mason confirmed the MBO team had bought the business from founder and majority shareholder Allan Gauld for £30m, an eye-watering price despite healthy 2010 results. …
Paul Kunert, 05 Jul 2011
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Computacenter beefs up in Germany

British PC mega reseller Computacenter has hoovered up German outfit becom Informationssysteme GmbH. London-based Computacenter will pay UCSG Holding Gmbh €2m for the operation, with a further €1.2m in the pot depending on the final shape of the balance sheet. Computacentre says the deal "will strengthen Computacenter's …
Joe Fay, 26 Nov 2009
The Register breaking news

Google name 'worth $100 billion,' says Strategy Boutique

The most valuable brand in the known universe is Google, according to a survey produced by a Strategy Boutique that makes its living convincing companies that a specific financial value can be attached to something as amorphous as a brand. The supremely confident brandmeisters at Millward Brown Optimor published their fourth …
Rik Myslewski, 01 May 2009
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Healy vacates top slot at Calyx

Maurice Healy has resigned as CEO of Calyx, the Anglo-Irish reseller group he navigated through a €104m MBO last year, ENN.ie reports. His replacement is Tara Brady, who joined the company from Getronics in June as chief operating officer. Healy remains a shareholder. Flag Ireland
Team Register, 15 Aug 2008
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Hamilton Rentals regains independence

Management at Hamilton Rentals has carried a £10m MBO from the rental outfit’s parent, 2e2. The Hamilton Rentals name has a long history in the channel before being absorbed by Compel in 1996. The Hamilton Rentals brand continued at veteran reseller Compel, which was itself absorbed by 2e2 last year. The management at the …
Joe Fay, 16 Jul 2008
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HP buys Arab channel biz

HP is buying the Atos Origin Middle East Group (AOME), to pump up its consulting business in the Arab world. Terms are undisclosed. AOME dubs itself the "leading Business Consulting and Systems Integration Partner in the region", covering 16 countries in five countries. The business is headquartered in Bahrain and has offices in …
Team Register, 22 Oct 2007

It's a long way from Cupertino to Roswell, but we'll get there

For those of you who may have missed it, a Cupertino-based company called Apple launched a mobile phone in the US last Friday and sold an awful lot of them over the weekend. It would be hard to miss the iPhone, of course, because it seemed not a single story about mobile phones has gone by without a reference to it - at last …
Billy MacInnes, 05 Jul 2007
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Calyx shareholders approve MBO

Shareholders in the IT services firm Calyx have voted overwhelmingly in favour of a management buyout by chief executive Maurice Healy and his management team. The buyout is worth €103.8m. Healy currently owns 19.3 million shares in Calyx, representing almost 28 per cent of the company. Under the terms of the buyout, he will …
Stephen Errity, 04 Jul 2007
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MBO splits Star and MessageLabs

Managed security services firm MessageLabs and Star Technology Services, the business-focused ISP that gave it birth, are to become separate companies via a management buyout of Star. Terms of the deal were not disclosed. Star Technology Services will now operate independently under a management team already in place. As well …
John Leyden, 12 Jun 2007
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Calyx yields to MBO

Calyx, the Irish computer reseller, has agreed to a management buyout of the firm, led by chief executive Maurice Healy. The deal, which will give shareholders £1.01 per share, values Calyx at around £70.2m (€103.8m). The bid was made by the consortium Stornoway, which was created to make the acquisition, and consists of …
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Arc completes MBO

Arc Technology Distribution has completed a management buyout (MBO) of its majority shareholder Owen Dukes. The company's senior management team, including sales director Stuart Reay and finance director Robin Draper, funded the MBO. Dukes, now CEO of server-based software provider Propalms, was previously managing director …
Kelly Fiveash, 21 Mar 2007