Maintel completes Azzurri gobble

Comms VAR virtually trebles in size as shareholders green-light £48.5m acquisition

Comms reseller Maintel has completed its reverse takeover of rival Azzurri Communications after shareholders gave the green light to the £48.5m deal.

Maintel's revenues will virtually treble to £140m as a result of the deal, which it claims will make it "one of the largest and most highly skilled integrators in the communications sectors".

After the deal was announced last month, Maintel CEO Eddie Buxton told CRN that Azzurri's ICON cloud platform was a key rationale behind the acquisition, adding that Azzurri was 18 months ahead of it on cloud.

Commenting today, Buxton said AIM-listed Maintel is entering a new phase in its history with the deal.

"The overwhelming approval by shareholders has further confirmed to us that this acquisition will prove beneficial for employees, customers and partners of both companies, providing enhanced scale and visibility of the combined group," he said.

Azzurri CEO Chris Jagusz added: "We are delighted to be joining such a prestigious and successful company. The combined group will be able to offer its customers a broader range of services in hosted cloud and data solutions."