Ian Brown, Chief Executive of Redstone Communications, commented: "This is a transformational deal and a significant milestone in Redstoneâs aspiration to secure a leadership position within the communications marketplace and be an active participant in the consolidation of the communications services industry. The operational and geographic fit of Xpert and Redstone make perfect commercial sense. This, combined with the target markets and both companies share, will enable the combined business to look forward to the future with increasing levels of confidence."
Xpertâs CEO, Martin Balaam commented: "This move comes as part of our strategy to enhance Xpertâs product offering and strengthen existing partnerships with Avaya, BT, Cisco and HP. Xpert and Redstone are an excellent match with complementary products, resources, customers and vertical markets. Xpert can only benefit from this union."
Redstone Plc, fully listed on the UK FTSE, is a national communications services provider delivering a complete range of voice, data and intelligent building management solutions with specific expertise in converged voice, mobility and security solutions.
Following the acquisition the resulting Plc will have almost 500 employees operating out of over 10 locations in the UK and Ireland and combined revenues of Â£80million.
The sale has been conditionally agreed and the transaction is expected to be completed by the end of April 2005.