Matrix Communications Group Plc, a network communications integrator, has acquired network integration specialist Bedrock Networks Ltd, for 2.42m pounds ($4.4m) in cash and shares.
Burnham, UK-based Bedrock Networks was established in 2001 and for the year ending July 31, 2003, it recorded a profit of 1.1m pounds ($2m) on turnover of 4.1m pounds ($7.5m). David Grant, who set up Bedrock, will take a seat on Matrix’s board.
Matrix Communications has also acquired Norwood Adam Distribution, a PC reseller and network integration provider, for 2.5m pounds ($4.5m). This follows on from the transaction back in November 2003, when Matrix Communications paid 100,000 pounds ($183,630) for a 50% stake in Norwood Adam Technical Services, a network operations centre business.
The purchases are the latest in a string of acquisitions made by East Grinstead, UK-based Matrix Communications, whose clients include Vodafone, Honda and the BBC.
In December 2003, Matrix Communications bought Intrinsic Networks Ltd, a supplier of IT security solutions and services. Then in April this year, Matrix paid $4m for Decorum Networks Ltd, a specialist provider of voice-over IP solutions for public sector and private companies.
Matrix Communications used to be known as Offshore Telecom until March 2004 when it changed its name. The company was initially founded back in 2000 and provided voice, data and internet communications services for the global leisure marine market.
However, in light of its continuing losses within the original satellite communications business and the acquisition of Matrix Network Solutions, the board decided to withdraw from satellite activities and focus on the IT networking market.