Matrix Communications Group has sold its EquIP business to Horizon Technology Group, just a year after acquiring the security distributor.
Horizon, which also owns distributor Clarity UK, purchased EquIP for £10.55m.
The funds from the deal will enable Matrix to make further acquisitions and expand as a Virtual Network Operator (VNO), the firm told the City this morning. Matrix said it does not intend to also sell its Fujin unit, which focuses on the mobile carrier market, as this will help it in its move to become a VNO.
Ian Smith, Matrix chief executive, said: "With the increasing convergence of IT and telecoms services, we are now accelerating our strategy of integrating our IT products and services business with our telecoms network unit in response to customers rapidly growing demand for fully integrated and managed telecommunications services."
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