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Maintel has splashed out £5.1m on customer contracts from Atos, which has decided to focus on a growth strategy through partners and large accounts.
As a result of the acquisition, which should see the accounts transferred across on 1 July, Maintel will become a channel partner of Atos.
The £5.1m is going to be paid over four and a half years and is going to be funded out of Maintel's existing cash resources. The firm has stated that it is expected to be accretive in the first full year of ownership.
“This is a significant agreement for both Maintel and Atos, building on our already substantial relationship. We have many years of experience working together, but this takes our partnership to the next level," said Eddie Buxton, CEO of Maintel.
Maintel is familiar with using acquisition as a means of bolstering the business and made it clear it is expecting 'substantial’ growth in its 2018/19 fiscal year when it released its numbers back in March.
One of the problems that the firm had suffered in its fiscal 2017 was prolonged delays with some large projects and acquiring these contracts should increase the firms flow of business.
In statements accompanying the results at the back end of March the Maintel boss Buxton, said that its pipeline of orders for Avaya installations was looking good and would help fuel its managed services and technology revenues this year.
"The Board remains confident in delivering substantial growth in revenue and EBITDA in the full year to 31 December 2018," he said.
Maintel has been prepared to spend millions before to grow the business and last August splashed out £5.25m to acquire Intrinsic Technology which followed the move in April 2016 to spend £48.5m to acquire Azzuri.