Maven investee Vodat acquires Axonex
Maven portfolio company Vodat Communications Group (Vodat) has extended its information and communication technology (ICT) capability with the acquisition of Cheltenham based Axonex Limited, a Cisco Gold Partner.
The two businesses are joining forces to form a group offering an enhanced solution set that will benefit both customer bases and create an excellent platform for increased organic growth.
Both businesses will continue to operate from their existing offices in Stockport and Cheltenham respectively. The three Director shareholders of Axonex will all remain with the business and become shareholders in the enlarged group.
Neil Poultney, Vodat Managing Director, said “Like Vodat, Axonex have an excellent reputation with customer service at the heart of everything they do. Their skills and capabilities are complementary to Vodat’s, so both sets of clients will benefit from a more comprehensive solution set. The enlarged group will also be better placed to win new business through an extended offering”.
Andy Peters-Smith, Axonex Managing Director, said “These are very exciting times for Axonex. There are clearly synergies for both companies which can only enhance the services for our customers. The last 12 months has seen us double our headcount and move to new offices. We have experienced significant growth during this period, with revenues increasing by 68%. Vodat Group’s combined resources and extended skill set will position Axonex for the next phase of its growth.”
Axonex is the first acquisition for Vodat, and accelerates its aspiration to become a one stop shop for ICT as businesses transition to cloud based applications. The group’s core objective is to continue to increase growth through increased capability, organically and through further strategic acquisitions.