London-based Luxtech has been in talks with the HP, IBM and Cisco education specialist for three months and a deal was concluded on Thursday.
Managing director Russell Lux said the acquisition would propel Luxtech’s turnover to about £9m and double its headcount to 50.
“We have been looking to grow the education side of our business,” he said.
“Maypace sells lot of hardware so we can push managed services and telephony products into its clients.”
Lux admitted Maypace had encountered credit insurance issues and said the firm’s private equity backers had been looking to exit the business for about a year.
“This will give us more leverage with our vendors,” he said. “We are well-financed to move forward and grow our business through these challenging econo-mic times.”
The Maypace brand will cease but Lux stressed the firm’s Langley head office would remain in the interim.
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