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MDNX to acquire Easynet
2013-12-12 14:31:00| Telecompaper Headlines
(Telecompaper) UK managed network services provider MDNX has agreed to acquire rival Easynet. The takeover is led by Equistone Partners Europe, a mid-market buy-out firm run by former Barclays executives. Equistone will hold a majority stake in the new company, while Easynet's owner LDC, another private equity firm, is keeping a minority stake. The merger combines Easynet's portfolio of blue-chip customers with MDNX's strong position in the UK public sector, offering increased scale to provide a wider of range of network and hosting services. The company will continue under the name Easynet, except for its German activities, which have focused more on IT outsourcing. The German operations will be spun off in 2014 in a new company to be called Nexinto, owned by LDC and the German management team. The German network assets will remain with Easynet, to build a new business there called Easynet Global Services GmbH. Mark Thompson, CEO and founder of MDNX, will lead the new group as CEO, and Easynet CEO Greg Clarke will become non-executive chairman of the Group. MDNX's Wayne Churchill and and Mike Mulford will remain respectively COO and CFO. No financial details of the takeover were disclosed.
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easynet
Category:Telecommunications