Major local employer TXO Systems, has today signed a deal to acquire MMX Communications, based in the West Midlands.
TXO Systems is a global market leader in telecoms asset management and was recently recognised within the top 200 biggest companies in Wales.
The news of the deal is a welcome boost for the local economy, and grows TXO’s share of the UK market, through the expansion of its services.
Headquartered in Chepstow, the business is committed to South Wales, employing over 120 staff from the area. Together its team serves over 1,000 customers globally, who include 75 per cent of the top 100 telecoms companies. Virgin Media, BT, Telefónica and AT&T are among some of its long-term clients.
Founded in 2005, TXO is a local success story. The business has delivered impressive year-on-year organic growth, driven by international expansion and a global customer base.
Today’s deal creates a combined business with an annual turnover approaching £40 million and 225 employees operating across five continents, from offices in the UK, Brazil, the US and Australia.
TXO Group CEO Darren Pearce said:
“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”.
“MMX services are complimentary to ours. Together they bring a new dimension to our customer offer and gives us a unique position in the market. We’re excited about what these new capabilities mean for our customers.”
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 MMXs’ operations, which includes repair services, completes the circular economy loop.
The announcement comes at a time when the digital sector is growing faster than the economy. On the back of a growing thirst for data and connectivity, and 5G emerging from the shadows, the capacity, quality and reliability of network infrastructure has never been more important. The services of TXO and MMX are essential to this.