Bracknell-based network integrator, MDNX, has acquired Derby-based ‘white label’ peer, Griffin along with its London-based managed hosting sister company, Iconnyx. Terms were not disclosed, but the combined entity expects to turn over £85m. Clearwater Corporate Finance advised the vendors.
Seems like a good move for MDNX in a market ripe for consolidation. MDNX is one of the beneficiaries of the Government’s Public Services Network (PSN) connectivity framework announced in March (see 12 PSN Connectivity suppliers chosen).