The Channel logo

News

By | Team Register 17th May 2006 10:39

Calyx buys Matrix integration business

£40.5m to unpick Matrix

Irish technology group Calyx is spending £40.5m to buy Matrix Communications Group’s integration business.

Calyx will raise £17.5m through a share placing, and will use £11.5m of this to help fund the deal. The total initial cash payment will be £33.5m, with the balance of the total price coming from the issue of shares and a payment £5m depending on future performance.

The deal means Calyx will take on the Network Partners Holdings and MXC businesses from Matrix. It said the deal would firmly establish it as a force in the UK ICT market.

The deal does not include Martix’ Fujin content filtering technology. Following the disposal of the integration businesses, the group plans to change its name to Fujin Technology Plc.

In a statement today, Matrix said the integration business “is the main source of revenue and profit for the group”. It said it regards Fujin as having the potential to generate significant shareholder value, and it was already in talks with potential partners. ®

alert Send corrections

Opinion

Tim Worstall

Or why the reversal of globalisation ain't gonna 'appen
The full Spanglish breakfast: mealy pudding, bacon, black pudding, sausages, fried egg, toast
Blood image

Trevor Pott

Can the storage giant overcome a lack of necessary leadership?

Chris Mellor

Why overlapping kit from a merger equals a disaster in waiting

Features

No, silly... he was the fall guy for years of Finnish folly
Fraud image
Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that