Actimax becomes CloudXL after acquisition

VAR takes over Network Resource Group and rebrands to reflect its combined cloud and UC offering

VAR Actimax is to rebrand as CloudXL after acquiring Network Resource Group (NRG) for an undisclosed sum and hedging its bets on growing demand for cloud solutions.

The merger of the two firms under the CloudXL brand will create a £20m player. It allows the newly merged firm to target new and existing customers that have found the technology too complicated and fragmented in the past.

CloudXL is backed by private equity firm Synova Capital, which worked with Actimax on its acquisition of Universal.

John Massey, chief executive of CloudXL (pictured), told ChannelWeb the merger makes sense: “Actimax specialises in voice, unified communications and telephony, and NRG in virtualisation and managed services. It was a perfect fit.”

He said all staff from NRG have been absorbed into the new company, bringing the overall head count up to 100.

“We have brought together teams which understand every aspect of the cloud from hardware and networking, software and services to business processes,” he said.

Massey added that the firm is looking to tackle two types of customers: the SMBs (30-100 seats) and the larger multi-sized companies that want multiple services down the data pipe.

“We have customers in finance, insurance, local government, charities. We have a number of target markets that we are aiming to sell our services to and we are aiming for 15 per cent growth in the first year,” he said.

Massey said the firm has a £10m war chest with which to make other acquisitions, “should the opportunity arise”.

“It has to be a sensible acquisition with an offering that is similar or complementary to our existing capabilities,” he said.

All management of NRG will be staying on – bar the owner, who is leaving to set up his own software venture – added Massey.