UK managed communications services firms Maintel, which is listed on AIM, a sub-market of the London Stock Exchange, has acquired Intrinsic Technology for £5.25 million.
Intrinsic is a secure communications solutions provider. The deal will diversify Maintel’s business and boost its functions in networking, network security, and unified communications, the company said in a statement. The acquisition will make the merged company one of the UK’s largest communications integrators with combined revenues of £160 million and 700 employees. Intrinsic is also a Cisco gold partner.
“The acquisition of Intrinsic makes compelling strategic and financial logic for our shareholders,” commented Eddie Buxton, CEO of Maintel.
“Intrinsic has an enviable track record as one of the UK's leading Cisco partners and significantly enhances Maintel's strong capability in networking,” he said. “As well as further broadening our Avaya capabilities, the acquisition also brings the opportunity to offer Maintel’s existing portfolio to Intrinsic customers, in particular our ICON suite of cloud and managed services.”
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