MXC and Liberty Global to build IT services provider

Technology-focussed merchant bank MXC has inked a joint venture agreement with a subsidiary of Liberty Global to build an IT services provider focused on small and medium sized business customers in the UK.

The pair initially plan to undertake a series of acquisitions to create an enterprise of size and scale, while incorporating both of MXC's knowledge and understanding of the market, as well as Liberty Global's existing network and solutions and 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.