Completion of Acquisition of stake in MXLG
Summary by AI BETAClose X
7 October 2025
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Tialis Essential IT Plc
("Tialis", the "Company" or "Group")
Completion of Acquisition of 50% stake in MXLG Acquisitions
On 12 September 2025, Tialis (AIM: TIA), the mid-market IT managed services provider, announced that it had signed a conditional share and purchase agreement with MXC JV Limited for the acquisition of a 50 per cent. investment stake in MXLG Acquisitions Limited, a joint venture between MXC JV and Liberty Global Europe 2 Limited (the "Acquisition").
The Acquisition was conditional upon receipt from Santander UK plc ("Santander") of its consent to the Acquisition, as required pursuant to the terms of the Company's debt arrangements with Santander.
Tialis is now pleased to announce that it received Santander's consent to the Acquisition on 6 October and accordingly the Acquisition has completed, marking the completion of a key strategic initiative in line with our stated growth objectives.
Completion of this deal represents a significant milestone for the Group and is expected to have a positive impact on assets over the medium term. The Board is confident that this transaction will add meaningful shareholder value.
Commenting, Chairman Ian Smith said:
"The finalisation of this agreement demonstrates the continued execution of our strategy, focusing on sustainable growth through targeted acquisitions. This is a highly complementary addition to our business that aligns with our core values and strengthens our market position. On behalf of the Board, I would like to thank our shareholders for their continued support and our team for their dedication in bringing this deal to a successful conclusion."
The Board looks forward to providing further updates in due course.
For more information, contact:
|
Tialis Essential IT Plc Ian Smith, Executive Director |
Tel: +44 (0)344 874 1000 |
|
Cavendish Capital Markets Ltd Nominated Adviser and Broker Corporate finance: Jonny Franklin-Adams/ Elysia Bough Corporate Broking: Tim Redfern |
Tel: +44 (0)20 7220 0500 |
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