The Channel logo

News

By | Paul Kunert 19th September 2011 13:12

Maxima turns to M&A veteran after sale talks go stale

Managed services firm hires Ian Smith as non-exec director

Maxima has hired buy-and-build specialist Ian Smith as a non-exec director in the wake of its failed attempt to sell the business.

The London Stock Exchange listed managed services provider last week revealed that it had been unable to thrash out a deal with several interested suitors and that the offer period had lapsed.

The firm notified the market today that Smith – a director at MXC Capital, Redstone and Accumuli – has joined the board to help the bosses determine the future of Maxima.

"His knowledge and experience will be a valuable asset through the process of completing our strategic review and beyond," said Maxima chairman Kelvin Harrison.

Smith has carved a reputation of restructuring, buying, building and selling channel businesses in the UK including Matrix and Xploite. He has concluded 26 corporate transactions during a career spanning two decades.

Since pitching up at Redstone around a year ago, he has sold off elements of the operation – the reseller business in Ireland, the BSF unit and the security business in the UK – helping to cut the losses at the networking integrator.

A similar process at Maxima would appear to be a clear possibility, with the group broken up and flogged off. Maxima currently has a managed services/ hosting business; proprietary software; and a Microsoft, SAP and Oracle reselling operation. ®

alert Send corrections

Opinion

Houses of Parliament in night-time

Andrew Orlowski

Come on everybody, let's upload all our stuff into Government by Cloud
Joe Tucci EMC
frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties

Features

Alistair Darling and Alex Salmond debate Scottish independence
You keep the call centres, Hamish, we'll take the banks
Internet of Things
Everyone loves those Things, just not on each others' terms
No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever