The deal is done! The acquisition of ailing mid-market software and IT services firm, Maxima by managed infrastructure provider and reseller Redstone (see Smith brings Maxima to the Redstone party) has now been approved. Maxima will join the ranks of the AIM ‘dearly departed’ on 12th November.
I met up recently with Redstone CEO, Tony Weaver, and am starting to get a somewhat clearer picture of what he and MXC Capital business partner Ian Smith are trying to achieve with their various ‘buy and build’ investments in mid-market software and IT services companies, such as Redstone and Accumuli (see Smith accumulates more of Accumuli). There are plenty of entrepreneurs playing this game and plenty of companies to 'buy and build'. Not all will make money from it, though my sense is that Weaver and Smith do seem to have their eye on the ball.