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02 Aug 2010
Redstone has welcomed two acquisition behemoths to its board of directors.
In a statement to the London Stock Exchange today, the company signed up industry veterans Ian Smith and Tony Weaver as non-executive directors.
The pair, who have now stepped away from Avisen after it bought Xploite earlier this year, boast a combined 40 years experience in the IT and comms space, and are actively on the hunt for more acquisitions.
Further reading
During their eight year reign of Xploite, the company racked up 26 corporate transactions including the sale of Anix to ACS, and returned £20m of cash to shareholders before the Avisen acquisition.
Stephen Yapp, executive chairman of Redstone, said in a statement: "We welcome Ian and Tony to our board, to which they will add considerable IT sector expertise. The board and I look forward to working with them."
Earlier this year Redstone vowed to return to profitability after posting a loss in the first half of its current financial year. The firm, which also sold its telecoms arm to Daisy, was the subject of takeover talks last year, which were later terminated.
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