View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 4, 2005

Redstone buys Xpert Group for $48m

Network and systems integrator Redstone has acquired Xpert Group, a network services provider based in Ireland, in a deal worth GBP 25.6m ($48.0m).

By CBR Staff Writer

The deal is technically a reverse takeover, as Xpert’s value is greater than that of Redstone. The purchase will be financed through a combination of cash, shares and loan notes.

Borehamwood, UK-based Redstone employs approximately 290 people, and made a loss of GBP 3.4m ($6.4m) on revenue of GBP 60.7m ($114.0m) in the year ended April 30 2004. The company is active in both the public and private sector. In its last fiscal year, 32% of total orders came through its education department, 7% came from government clients and 6% from healthcare providers, with retail contributing 18% and financial services 6%.

Xpert has about 200 staff, split between offices in Ireland and the UK, and provides contact centers, IP networks, server management and security services. The group recorded a pre-tax loss of GBP 3.9m ($7.4m) on revenue of GBP 27.3m ($51.2m) for the year ended April 30 2004.

Xpert shares many of Redstone’s key business areas. In its last fiscal year, 24% of Xpert’s total revenue came from financial services, 22% from healthcare, 15% from education and 8% from government. Both companies also have partnerships with Cisco and Avaya.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU