Xploite pursued by suitor

‘Buy-and-build’ storage reseller admits it is in talks to sell up

Written by Doug Woodburn

CRN, 12 Dec 2007

One of the IT channel’s most aggressive consolidators has admitted it is in discussions to sell the business.

Xploite, which has this year snapped up VARs Posetiv, Anix, Red Squared and Itheon, was yesterday forced to issue a stock market statement following a sudden spike in its share price.

The reseller, which is headed by industry veteran Ian Smith, earlier this year revealed plans to build a £100m storage and managed service outfit (CRN, 19 February). Smith stated at the time that the fragmented nature of the storage market meant it was “ripe for consolidation”.

The company said in a statement: “Xploite notes the recent movement in its share price and confirms that it is in discussions which may or may not lead to an offer being made for all or part of the company. These discussions are at an early stage and there is no certainty that they will result in a formal offer.”

Xploite kicked off its ‘buy-and-build’ strategy in February when it picked off storage reseller Posetiv (CRN, 19 February).

That was quickly followed with the acquisition of IBM VAR Anix (CRN, 4 April), IBM managed services partner Red Squared (CRN, 24 September) and business services assurance specialist Itheon (CRN, 15 October).