Nexus Management Plc, the UK-based provider of IT services, has acquired Scott Technology Corporation (STC) for US$1.8 million (£1.2 million).

Nexus Management Plc, the UK-based provider of IT services, has acquired Scott Technology Corporation (STC) for US$1.8 million (£1.2 million).

STC was formed for the purpose of facilitating the recent management buy-out of US technology infrastructure company Resilience. Nexus chairman Pete Paterson commented: “I believe the Resilience product offering and the quality of its management team will fit neatly into the Nexus portfolio of products and companies. The acquisition will allow Nexus access to the Network Security market.” Resilience generated operating profits, before management charges of $800,000 (£572,000) in 2008.

Nexus reported robust growth in 2008, with operating revenue up by 12 per cent to £3.8 million. The company’s chief executive, Roger Richardson, commented: “I am delighted with the company’s performance during 2008. Since September
2008, the economies in the US and the UK have been hit by a major recession. Nexus’s revenues are holding up well.”