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Maxima agrees DXI deal

By Mark Dunne on June 30 2008

IT services group Maxima Holdings is to make its eleventh acquisition in three years after agreeing to buy DXI Networks. Maxima has agreed to buy the company for some £8.5 million as part of its consolidation strategy designed to build a fully-managed IT infrastructure and communications services group.

The deal, which is expected to close in early July, will be paid in cash on completion funded through debt provided by Barclays.

Maxima chief executive Kelvin Harrison says the deal adds breadth and scale to the group’s infrastructure managed-services business as well as reinforcing its financial strength.

The group’s previous acquisitions have added Ringwood, Hanston Technology, QED Business Systems, Intertech Solutions Ireland and Centric Networks to its portfolio.

DXI’s services include designing, deploying and managing complex converged networks, server hosting, network security, VOIP and other telecoms services.

It has some 50 staff in London and a further 30 in India serving organisations such as Berkeley Group, Inchcape Retail, Transport for London and the FA Premier League. In the year to April, DXI reported a turnover of £14.1 million and pre-tax profits of £800,000.

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