Hexatronic Group AB (publ) (“Hexatronic”) has today, September 26, 2022, signed an agreement to acquire 90% of the shares in Impact Data Solutions Limited (“IDS”, “IDS Group” or “the Company”). The acquisition will be completed on October 3, 2022.
IDS Group offers consultation, design, and installation of fiber, copper, and containment solutions to support data center and colocation projects. In addition, IDS has a managed services division that supplies quality engineering to support smart hands services such as racking, stacking, cabinet placement, patching, and auditing.
IDS Group is based out of London, UK, and has approximately 40 employees. The Company serves customers across EMEA with revenues of approximately GBP 13 million. The acquisition broadens Hexatronic’s offering within the data center market and takes the offering into EMEA. IDS will work closely with US-based Data Center Systems (“DCS”) which Hexatronic acquired in September 2021.
The sellers are Sterlite Global Venture Limited based in Mauritius, a wholly owned subsidiary of Sterlite Technologies Limited, selling 80% of the shares in IDS and the original founders of IDS, selling 10% of the shares in IDS.
The remaining 10% of the shares in IDS are held by Benjamin Parker, CEO of IDS Group.
Hexatronic has an option to acquire the remaining 10% of the shares over the period 2026-2029.
The acquisition is financed with available cash.
The acquisition has no significant impact on Hexatronic’s earnings.
Comments from Hexatronic's CEO
“We are very pleased to welcome IDS to Hexatronic Group. IDS has a proven track record of working with the most demanding data center customers and will play a key role in growing Hexatronic’s data center business”, says Henrik Larsson Lyon, CEO of Hexatronic Group.
Comments from IDS Group
“Joining Hexatronic Group AB is a momentous event for IDS, increasing the already expansive footprint across EMEA, with Hexatronic and DCS we are now able to offer our services truly globally. Our unique pedigree in Design, IT Infrastructure builds, Smart Hands services and Vulcan Global Containment is recognized and used daily by the world’s leading Corporations and by the largest Hyperscale Data Centre operators, the move to be part of Hexatronic will strengthen our position to become a global market leader in Data Centre Services”, says Benjamin Parker, CEO of IDS.
Gothenburg, September 26, 2022 Henrik Larsson Lyon CEO Hexatronic Group
For more information, please contact: Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00 Pernilla Lindén, CFO Hexatronic Group, +46 708 77 58 32
The information was submitted for publication, through the agency of the contact person set out above, at 18:30 CEST on September 26, 2022. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.