8 Sep 2015 07:00
8 September 2015
MXC CAPITAL LIMITED
("MXC" or the "Group)
Investment in Sagacity Solutions, established Big Data Analytics provider
MXC (AIM:MXCP), the Aim quoted technology focused merchant bank announces that it will acquire up to 29% of Sagacity Solutions Limited ("Sagacity"), an established, profitable and fast-growing business specialising in Big Data Analytics.
MXC will work with the Sagacity management to build the QTOX brand, and strengthen the company's position in the Big Data Analytics space both in the UK and abroad.
Sagacity has a blue chip client base in the Financial Services, Telecoms, Energy and Utilities sectors, where it offers Big Data Analytics solutions based on its Oracle-based QTOX software platform. Sagacity has core service offerings in the areas of data quality, revenue assurance and, customer value management and analytics through which it helps customers manage and extract value from their data.
The initial investment of £4.8 million for a 19% stake in the company has been satisfied from MXC´s existing cash resources. A further £1 million of development capital may be invested at the option of MXC. In addition MXC has been granted options over a further 7.5% of the Company's issued share capital. In the financial year to 31 October 2014 Sagacity generated revenues of £4.8 million and EBITDA of £1.3 million and is expecting to deliver more than £7 million of revenues and over £2 million of EBITDA in the current year. This investment in Sagacity will sit alongside MXC´s growing portfolio of IP rich software providers including Castleton Technology PLC and 365Agile Group PLC.
Peter Rigg, Chairman of MXC, said "The team at Sagacity has developed world class software that they are already providing to a blue chip client base. We believe this technology has very significant potential and we are excited by the opportunity to take this product to a wider market".
Contact:
MXC Capital Limited | |
Marc Young | +44 (0)20 7965 8149 |
Zeus Capital Limited (Nominated adviser and broker) | |
Nick How / 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.