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ACS Business Process Solutions, a subsidiary of Texas-based IT services provider ACS, has acquired Bristol-based management services business Anix from Xploite Plc for up to £31.5 million in cash.

Xploite is based in West Sussex and specialises in acquiring and consolidating high growth IT companies. Ian Smith, Xploite chief executive, commented: "This very competitively priced and unsolicited cash offer provided us with an excellent cash return at a time of considerable market uncertainly."

Smith added: "We are now in a strong position to create further shareholder value by exploiting our proven expertise, market knowledge and business strategy at time when valuations are very attractive."

In the 12 months to October 2008, Xploite reported revenues up 60 per cent to £46.3 million, with gross profit up 101 per cent to £12.6 million.  

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