Liberty teams up with merchant bank to target SMEs in the UK

Liberty Global is launching an enterprise-focused joint venture in the UK with MXC Capital.

The operator and the tech-focused merchant bank said that they saw an opportunity to consolidate “a fragmented market”.

Specifically, they said they planned to build an IT services provider focused on small and medium sized business customers.

“The newly established joint venture company will initially seek to undertake a series of acquisitions in order to create an enterprise of size and scale,” a statement read.

Liberty, via its Liberty Global Europe 2 subsidiary, will share equal ownership of the JV, to be called MXLG Acquisitions, with MXC.

Both companies will appoint two directors to its board.

MXC is an investor in seven companies, including ones focused on IT, cloud, big data analytics and recruitment.

Liberty owns Virgin Media in the UK, whose business division mainly offers connectivity solutions to SMEs, large enterprises and the public sector.

The operator has yet to respond to European Communications about what impact the JV will have on Virgin Media Business, which saw revenues rise two percent to £186 million in the three months to 30 September.

The company said growth was driven by the small office-home office segment, which offset lower data and voice revenues.

[Read more: Déjà vu at Liberty Global with Q3 net losses, rising revenues in Europe]

According to a report last month, the ICT market is set to be the biggest growth area of the overall telecoms business space.

Analysys Mason has forecast global sales of the likes of cloud and security services would reach $230 billion by 2022.

More News

Iliad enters content game in France, finally launches Italian mobile business Iliad enters content game in France, finally launches Italian mobile business Iliad has acquired football rights in France and launched its opco in Italy as it looks to reboot after a disappointing set of financial results. More detail
Three UK appoints new CCO, CFO Three UK appoints new CCO, CFO The departure of Three UK's Chief Commercial Officer after just 18 months in the job has triggered a shake-up of the mobile operator's top team. More detail
TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk has agreed to sell 80,000 business customers to rival Daisy Group in a £175 million deal. More detail
A1 Telekom Austria Group rebrand reaches Bulgaria A1 Telekom Austria Group rebrand reaches Bulgaria Bulgaria is the third A1 Telekom Austria Group opco to get rebranded as the telco looks to market itself as a provider of "advanced" IT, IoT, cloud and content services. More detail
Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services has expanded its work with Dobroflot by developing a customised IoT solution for the Russian fishing company. More detail
    

 

European Communications is now
Mobile Europe and European Communications

  

From June 2018, European Communications magazine 
has merged with its sister title Mobile Europe, into 
Mobile Europe and European Communications.

No more new content is being published on this site - 

for the latest news and features, please go to:
www.mobileeurope.co.uk 

 

@eurocomms