MDNX Group is to acquire the entire issued share capital of Easynet, a global provider of managed networking, hosting and cloud integration services, from LDC. The merged operations of the two businesses will operate under the Easynet brand.
The combination has been backed by Equistone Partners Europe, the mid-market private equity manager, which will hold a majority stake in the newly formed Group.
LDC has reinvested in the newly formed Group to acquire a minority stake alongside MDNX management.
The new group is focused on delivering network, cloud, applications management and hosting services to public and private sector customers.
All countries within the Easynet Group will be part of this transaction, with the exception of the business in Germany. The newly group will create a new company in Germany into which all the dedicated network assets from the former German branch of Easynet will be transferred.
Mark Thompson, Chief Executive and founder of MDNX, will also lead the new Group as Chief Executive, supported by Wayne Churchill as Chief Operating Officer and Mike Mulford as Chief Financial Officer. Former Easynet Chief Executive, Greg Clarke, will take up the role of non-Executive Chairman of the group.
Clarke said: "IT is driving huge transformation in businesses across the world, with data, cloud and applications management finding a place on the board's agenda.
"Now more than ever, these organisations need a reliable, customer-focused organisation with innovation at the heart of its business, integrated with a compelling carrier integration business model and back-office systems.
"Bringing together Easynet and MDNX has created scale in skills, knowledge and operational excellence.
"Combining forces with Easynet enables MDNX to benefit from the Easynet brand and to develop its business outside the UK, establishing a strong footprint in Europe. At the same time, Easynet benefits from the strength of MDNX in the public sector market in particular, as well as its structured back office automation, business systems and carrier integration business model."
Thompson added: "We can change the way in which global businesses experience and interact with data, information and applications. Easynet and MDNX are aligned in terms of customers, products and service strategies, so the coming together of the businesses creates a dynamic collaborative organisation. It's fantastic news for our customers."