An initial payment of £400,000 will be followed by a deferred performance related sum of up to £2.5 million in 12 months’ time.
The deal follows the sale of Redstone’s Irish subsidiary Redstone Technology the previous week for £2.25 million.
Tony Weaver, CEO of Redstone, comments that the new technology partnerships brought by Fujin will complement Redstone’s existing offering and generate cross selling opportunities.
Founded in 2009, Berkshire-based Fujin installs and maintains ethernet IT networks and data security systems for companies in sectors including research and online gaming. In the nine months to September 2010 Fujin declared a pre-tax loss of £57,000 on a turnover of £1.4 million.
Oxfordshire-based Redstone provides managed IT services to public and private sector businesses. The AIM-listed company has 400 employees across the UK and comprises the businesses Redstone Converged Solutions and Redstone Managed Solutions.