Luxtech eyes up purchases

Reseller moves to land acquisition targets

Convergence VAR Luxtech revealed it expects to quadruple its turnover in 2008 after closing in on two acquisition targets.
The London-based reseller boasts a turnover of £4.2m, and managing director Russell Lux is adamant this will reach £17m next year once the proposed deals are finalised.
Lux told CRN: “I am not at liberty to discuss the names of the resellers involved, but the deals will be significant. The firms we have targeted are Microsoft, Cisco and Citrix resellers. They will allow us to develop our cross-selling opportunities.”
Lux said that both targets are based inside the M25.
He added that the deals will be privately funded, but refused to disclose further details.
David Pitts, UK senior vice president at vendor Swyx, said: “Luxtech has very big plans and this is great news for Swyx as it will help deliver a complete solution. We are more than happy because it means it will
be dealing with larger customers, which will only benefit us.”
Natalie Foers, managing director of distributor MTV, said: “It is an ambitious plan, but with Luxtech’s track record there is no reason why the acquisitions will not allow it to achieve these targets.”
Luxtech lines up first acquisition