Accumuli, the AIM-listed security managed services buy-and-build vehicle, has sold security software firm Webscreen Systems to Juniper Networks for $10m. Accumuli acquired Webscreen as part of the £5.9m acquisition of West Yorkshire-based managed security services provider Boxing Orange back in March 2011 (see Accumuli accumulates security services provider). Accumuli will remain a Webscreen VAR.
I’ll leave it to you to troll through the details if you so desire, but the salient point to remember is that the hand of entrepreneur Ian Smith is writ large over the fortunes of Accumuli through MXC Capital, the investment firm co-owned by Smith and business partner Tony Weaver, CEO of managed infrastructure provider, Redstone. You may recall Redtstone was the eventual resting place for troubled mid-market software and IT services firm, Maxima (see Smith brings Maxima to the Redstone party).
In other words, it’s best in my opinion to view Accumuli as a buy-build-and-sell proposition rather than an enduring play in security managed services. Nothing wrong with that so long as you know what you are buying. Indeed Accumuli’s shares perked up 4% on the news.