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LONDON - Tialis Essential IT Plc (AIM:TIA) has completed its acquisition of a 50% investment stake in MXLG Acquisitions Limited, the company announced Tuesday.
The mid-market IT managed services provider had previously signed a conditional share and purchase agreement with MXC JV Limited on September 12 for the stake in MXLG Acquisitions, a joint venture between MXC JV and Liberty Global Europe 2 Limited.
The transaction was finalized after Tialis received consent from Santander UK plc on October 6, which was required under the terms of the company’s existing debt arrangements.
According to the company’s press release statement, the acquisition represents a strategic initiative aligned with Tialis’s growth objectives. The board expects the transaction to positively impact assets over the medium term.
"The finalisation of this agreement demonstrates the continued execution of our strategy, focusing on sustainable growth through targeted acquisitions," said Ian Smith, Chairman of Tialis, in the announcement.
The financial terms of the acquisition were not disclosed in the statement.
Tialis Essential IT Plc is listed on London’s AIM market and specializes in providing IT managed services to mid-market clients.
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