AdEPT has made good on its recent commitment to an M&A spree with the purchase of Datrix.
London-based Datrix specialises in cloud-based networking, communications and cybersecurity. It counts RingCentral and Unify among its vendor partners.
AdEPT has made the purchase with an initial cash consideration of £9m. This has been funded through the company’s new banking facility, which it will use to make up to two acquisitions a year for the next three years.
"This acquisition is a game-changer for AdEPT, taking us to the forefront of next generation networking delivery,” stated AdEPT Chief Executive, Phil Race.
“Datrix, with the outstanding new products and partners it brings, builds significantly on our capabilities, adding scale and extending both our expertise and our solution breadth, which will benefit our customers in this large and growing marketplace.
"Datrix is a high-quality business with a well-established customer base, generating strong levels of recurring revenue and a cash generative, capex light, business model.”
Datrix’s key management will remain in their current roles in order to expand the group’s presence in advanced cloud-centric networking. Datrix Managing Director, Mark Thomas, will continue to lead the firm and will report directly to Race.
AdEPT expects that group run-rate revenue and EBITDA for the year ending 31 March 2022 will increase to around 18 per cent and 13 per cent, respectively.
