Matrix Communications Group has sold its Integration Division to Irish firm Calyx Group for £40.5m.
As CRN reported last week (CRN, 15 May) an Irish firm was looking to acquire Matrix's Integration business, and Calyx has now made the formal offer and listed on the Irish Stock Exchange's IEX market.
Ian Smith, chief executive at Matrix, who will become a non-executive director of Calyx, said: “We believe that through this disposal we are realising good value today for the Integration Division, whilst benefiting further from a share of any future gains of the combined entity."
Maurice Healy, chief executive of Calyx, said: "The combined strength of Calyx and Matrix provides a more complete service for our customers, from ICT infrastructure through to information security as well as positioning the Group in the much sought after networked ICT services market."
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