Xploite Plc, an operator and aggregator of strategic and high growth IT services businesses, has snapped up four managed services businesses from Cantono Plc for a seven-figure sum.

Xploite Plc, an operator and aggregator of strategic and high growth IT services businesses, has snapped up four managed services businesses from Cantono Plc for a seven-figure sum.

The £3 million transaction includes security consulting and managed services provider Blue River Systems and three other managed services firms located in London and Middlesex.

The deal aims to build on Xploite’s managed services business, strengthen the company’s position in the UK mid-market sectors and provide opportunities for cross selling.

Ian Smith, Xploite CEO, said: “The acquisition is expected to be immediately profitable and will become earnings enhancing after integration, which is anticipated to take eight weeks.” 

The trading performance of the four loss-making businesses shows an operating loss of £6.95 million on revenues of £4.47 million.