4th June 2019: MMX Communications Services has been acquired by global market leader in telecom asset management, TXO Systems.
The deal creates a combined business with an annual turnover approaching £40 million and 225 employees across a network of six offices in the UK, US, Brazil and Australia. The acquisition complements TXO Systems’ expertise in the supply of multi-vendor telecoms network equipment, by adding MMX’s specialist support services into its group capabilities.
Founded in 2005 and operating on five continents, TXO Systems has over 1,000 customers globally, and these include 75% of the top 100 telecoms companies.
Today’s deal follows a period of sustained year-on-year organic growth for TXO, driven by international expansion and its global customer base.
The synergies between the two businesses present significant opportunities for continued growth and the acquisition marks the start of a new chapter in TXO’s success story, says Group CEO Darren Pearce:
“Our clients will benefit directly from our expanded services.
In MMX we have found a professional, well-respected and successful business that has a deep knowledge of the industry and a shared passion for delivering quality. The technical expertise within its team is impressive and its services are complementary to ours.
Together they bring a new dimension to our customer offering and give us a unique position in the market. We are excited about what these new capabilities mean for our customers and the growth of the market.”
TXO is key to the circular economy in the telecoms sector. Through its services it greatly extends the lifetime of telecoms equipment. Its asset management services ensure there is a market for used network equipment. Every year, well over half a million telecoms parts are sustainably acquired, redeployed, resold and recycled by TXO. The addition of MMX’s operations, which include repair services, completes the circular economy loop.
“With its financial backing and scale of operation, TXO is perfectly placed to support MMX’s growth plans and vision for the future, says Neil Bartlam, MD of MMX:
We are proud to be joining the TXO Group, and this deal accelerates our long-term growth ambitions by becoming part of a leading, global business whose values mirror our own.”
MMX will continue to operate under its well-known brand name as part of the wider TXO Systems Group.