A specialist in IT security and risk management.
MXC identified Accumuli as undervalued and with little support (called Netservices at the time with a market capitalisation of c.£1m). Subsequently, MXC acquired a 15% holding and joined the board in early 2010.
- Restructured and initiated buy and build strategy in IT security
- Disposed of a legacy business for £3.25m
- Raised £5m of new cash
- Made 7 further acquisitions
- Further non-core assets were sold to Juniper Networks Inc. for $10m
In March 2015 NCC Group plc (LSE:NCC) made a 32.8p per share offer representing £55m of equity value and an EV of £65m.