The service provider 365 ITMS has been acquired by its third owner in two years.
IDE Group bought the Microsoft partner was acquired in 2017, before being sold in a management buyout last October.
Struggling IDE Group has sold 365 ITMS as part of the new leadership’s plans to rescue the company. It took on the 365 ITMS name again.
IDE, which rebranded from Coretx last year, acquired 365 in 2017 as part of an M&A spree, but has recently been going through a difficult spell that has seen its management overhauled.
The latest company to own it is investment firm MXLG – a joint venture between Liberty Global and IDE shareholder MXC. It is pretty likely to be part of MXLG’s buy-and-build plans.
Under this plan, MXLG has also acquired comms provider Koris Communications. Koris works with vendors including Mitel, Cisco, and Fuze.
MXC said the two acquisitions have been financed by its further investment into the joint venture, and funds from its RBS facility.
