2 Mar 2015 07:00
MXC Capital Limited
("MXC" or the "Company")
Acquisition by 365 Agile
MXC is pleased to announce that its investee company, 365 Agile Limited ("365 Agile") has completed its first acquisition, acquiring the entire issued share capital of South Views Solutions Limited ("SVS") for £1million.
SVS is a provider of mobile working and systems integration solutions. SVS is entirely complementary to the existing operations of 365 Agile and creates a market leading mobile working solution with IoT (Internet of Things) capabilities to drive significant benefits for the Social Housing sector and beyond. The combined businesses will have annualised run rate revenues of over £2 million.
Castleton Technology plc, an MXC investee company, continues to provide the sales channel, delivery and support to 365 Agile in the Social Housing sector.
365 Agile was advised on these transactions by MXC Capital Advisory LLP, a subsidiary of MXC Capital Limited (AIM : MXCP). MXC Capital Limited is a core investor in 365 Agile, owning 25 per cent. of the issued share capital.
Marc Young, CEO of MXC 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 Limited
Marc Young
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick How/John Depasquale/John Treacy
+44 (0)20 7533 7727
Alma PR
Josh Royston/Hilary Buchanan
+44 (0) 7780 901979 / +44 (0) 7515 805218
About MXC Capital
MXC is a specialist merchant bank with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.