6pm Holdings plc has entered into an agreement to wholly acquire IT infrastructure companies Compunet Operations Ltd and Compunet Agencies Ltd.
The “Class 2” transaction requires prior approval by the company’s shareholders. The acquisition depends on the approval by shareholders of an increase in share capital and the successful completion of a rights issue intended to fully finance the acquisition.
Following the announcement of the acquisition of a majority shareholding in Softweb Ltd late last year, this is the second acquisition for 6pm in line with expansion plans aimed at growth through mergers and acquisitions.
Compunet and 6pm have been collaborating for more than five years, servicing clients in Malta and the UK.
The infrastructure outfit provided a perfect complement to 6pm’s service and product offering and allowed the company to offer clients an end-to-end solution.
Following the restructuring that took place towards the end of the year, 6pm has been fast to put the new business plan into action. Having a hardware and infrastructure arm is a key pillar to the foundation of the business vision.
Besides being a leading provider of IT hardware and infrastructure solutions, Compunet has a significant portfolio of agencies that it represents in Malta and an impressive customer base. The company is also a leading provider for top end solutions ranging from Fibre Optic networks to VM Ware virtualisation solutions. This would undoubtedly bring added value to the table and enable the 6pm Group to provide their clients with a total solution.
Compunet has been in operation since 1996. In addition to its commercial infrastructure services, the company operates a leading IT hardware and electronics retail outlet in Mosta. Compunet is also an authorised service centre for Epson, Lenovo and Viewsonic, among many others.
With a compliment of five technical individuals, the company has been a key infrastructure provider to a host of organisations locally, including clients in igaming and the pharmaceutical industry, with projects involving infrastructure design and mana- gement, support and maintenance, access control, security audits and network monitoring solutions.
“This is a brilliant opportunity for us to align ourselves with one of the IT leaders on the island. We are extremely excited by the prospects this will bring. The two companies already have a proven working relationship.” commented Brian Zarb Adami, director at Compunet. “Going forward, Compunet will continue to invest its efforts to become a major corporate player in IT infrastructure and increase our accreditation to compliment the current Cisco, VM Ware and Microsoft accreditations. People will continue to be trained and developed to ensure the company will continue to build its future on human capital.”
Subject to this acquisition materialising, Mr Zarb Adami will be appointed chief technical officer of the 6pm Group.