Redstone Group has demerged its network-based managed services business so that it can begin operating as a separate entity.
Redcentric has been demerged from Redstone Group and will now be providing network services, infrastructure-as-a-service, software-as-a-service as well as IP telephony.
The business was originally part of Alternative Investment Market-listed Redstone Group, a business which joined the junior market in 1999.
Redcentric and Redstone will now operate as two separate entities strategically, operationally and financially, with separate management teams.
Fraser Fisher, COO of Redcentric, comments, ‘Following Redstone’s acquisition of Maxima it was clear that we had two compelling yet distinct propositions, and with that two core clients bases with different requirements and virtually no overlap.
‘Just as we realise its not “one size fits all” for our customers, the same can be said for ourselves. Our new structure allows for the two distinct businesses to operate independently, play to their strengths and innovate according to their unique needs.’
In September 2012, Redstone Group acquired managed services provider Maxima for £9.9 million.
The all-share deal between the AIM-listed firms equated to a 38 per cent premium on Maxima’s market cap.
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Brendan Loughrey, managing director at Redstone, adds, ‘For the Redstone team it’s very much business as usual as we continue to deliver infrastructure solutions.
‘We have a great list of customers – particularly in the financial services space – and that’s because we have built an enviable reputation in project delivery thanks to our investment in people and partnerships.’