Liberty Global has signed a joint venture agreement with technology-focused merchant bank MXC.
The companies plan to build an IT services provider focussing on small and medium sized business customers within the UK.
The Virgin Media owner and its new partner are planning a series of acquisitions that would takes advantage of MXC’s knowledge of the market, Liberty Global’s existing network and solutions, as well as the opportunities both parties see to consolidate what remains a fragmented market.
The joint venture company will be owned by both parties equally, will be called MXLG Acquisitions Limited and each party will appoint two directors to the board of the company.
