VAR Xploite has signalled it will re-commence its buy and build strategy after ending talks with a mystery suitor.

The aggressive reseller, which is headed up by channel veteran Ian Smith, admitted in December it was in discussions which may have led to an offer for all or part of the firm (CRN, 12 December). It made four acquisitions last year, including IBM reseller Anix.

However, in an AGM statement, Xploite confirmed that “discussions relating to an offer for the company have now ceased and Xploite is no longer in an offer period”.

Smith added: “We have a strong balance sheet and are looking forward to making further acquisitions, in line with our stated strategy, in an increasingly attractive market for M&A deals.

“I am very confident that our financial performance moving forward will demonstrate that our managed services strategy is capitalising on the area of the IT services market which is experiencing some of the strongest growth.”

Xploite also confirmed that trading to date has been in line with the board’s expectations.

The VAR said it had won business across all divisions, especially managed services, where it has recently bagged wins with Wyevale Garden Centres, Mitie Group and EasyJet.