Partner Article

Manchester-based Calyx Managed Services acquired by Yorkshire company for £12m

Manchester-based cloud managed services company Calyx Managed Services has been acquired by a Yorkshire company.

Recentric plc has paid a consideration of £12m in cash, with completion expected on 13 April 2015.

Calyx’s IT generated a turnover of £9.1 million and a gross profit of £5.1 million last year.

Chief Operating Officer of Redcentric, Fraser Fisher, said; “We are delighted with this acquisition: it fits our strategy well, and will be earnings enhancing as we expect to generate operating margins in line with our existing business.

“We welcome the Calyx clients and look forward to providing a high quality service while offering a broader range of solutions.

“This acquisition builds on our successful and growing Redcentric platform; following the integration of Calyx we will seek to augment our strong organic growth with further acquisitions that fit our investment criteria.”

This was posted in Bdaily's Members' News section by Sophia Taha .