Matrix negotiations

Matrix Communications Group has confirmed that it is in negotiations to buy both security distributor equIP and VAR Harrier Group, as exclusively revealed by CRN in December.

Ian Smith, chief executive of Matrix, told CRN that "heads of agreement" have already been signed with equIP. "We have made a formal announcement to the City of our intentions and we are having a continuing dialogue with the company, which will hopefully result in an acquisition," Smith said.

By signing heads of agreement, both parties have agreed a framework for what the deal will look like if it is concluded.

Smith said everyone involved is keen for the deal to go through. "I am fairly confident this will happen," he added.

Although no further details could be provided, Smith noted that in the past, when Matrix has purchased firms, there have been few or no redundancies, and stressed that the firm is always looking to recruit more staff.

Paul Coates, sales director at F5 Networks - which has a distribution agreement with equIP and a Gold-level partnership with Matrix - was optimistic about the proposed deal.

"This means we will have one main point of contact instead of several, which are all integrated into a company that we already have a great relationship with," he said.

"Matrix's acquisition strategy is certainly paying off. It has bought good, healthy companies, and as far as I know it is one of the top 10 integrators that runs a non-Cisco strategy."

sara_driscoll@vnu.co.uk