Business performance specialist Avisen has agreed to acquire Xploite, an IT services group, for up to £11.4 million.
Business performance specialist Avisen has agreed to acquire Xploite, an IT services group, for up to £11.4 million.
West Sussex-based Xploite specialises in consolidating IT companies. After disposing of software company Anix for £31.5 million last year, Xploite’s main operating business is Storage Fusion, a data services business.
Ian Smith, CEO of Xploite, says the deal provides a platform to execute a buy-and-build strategy and the group is already looking at a number of acquisition opportunities.
The deal represents Avisen’s sixth acquisition since its reverse takeover of Z Group in February 2009. The company reported revenue of £2 million and pre-tax profits of £178,000 in the six months ending June last year.
