The Channel logo


By | John Oates 10th May 2006 13:49

Unsolicited offer made for Matrix Comms

Chairman warns shareholders

Matrix Communications chairman Alan Watkins has warned the company's shareholders that the firm could be sold, having received an unsolicited offer for the business.

In February, Matrix sold its Equip business to Horizon so it could concentrate on sales.

In a statement to the Stock Exchange, Watkins said: "In the last few weeks Matrix has received an unsolicited offer to acquire its integration businesses from an international trade buyer with minimal UK presence. These businesses, which exclude the Fujin mobile content filtering business, are the main sources of revenue and profit for the Matrix Communications Group, and in the year to 31 October 2005 had proforma revenue of £35.2m and operating profit contribution of £4.1m."

Watkins said discussions are still underway, and may come to nothing, but the deal had "considerable industrial logic".

Watkins also updated on Matrix trading and, although overall the firm is on target, there are problems with its mobile porn blocker Fujin. According to the statement, business was down because of slower than expected take up of services by Vodafone.

The firm also announced Matthew Darling and Michael Frank are leaving the board of directors.

Read the whole statement here. ®

alert Send corrections


George Osborne, photo: HM Treasury
shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.