Company History

Xploite plc became publicly listed on the London Stock Exchange in January 2001 under the name Offshore Telecom plc. The Country of it’s incorporation and main operations are in the United Kingdom.

The company then grew through a series of 9 acquisitions and consolidated itself into three distinct trading businesses, namely Distribution, Integration and Fujin Technology

Offshore Telecom were providers of satellite communications services for the global leisure marine market. In April 2003 Offshore Telecom acquired Matrix Network Solutions and a review of activities was conducted. In light of continuing losses within the original satellite communications business the board withdrew from satellite activities and focused on transforming the company into a leading supplier of high performance IT network solutions. On the 10th March 2004, Offshore Telecom was renamed Matrix Communications Group.

The company then grew through a series of 9 acquisitions and consolidated itself into three distinct trading businesses, namely Distribution, Integration and Fujin Technology. In February 2006 the group disposed of the Distribution division for £10.5m and in June 2006 it disposed of the Integration business for £40.5m.

In October 2006 the Group returned £10.5m to shareholders by way of a reduction of the company’s share premium account.

In April 2003 the current CEO, Ian Smith, with others invested £300,000 into Offshore Telecom. This £300,000 was translated into a £20m trading cash profit upon the sale of the Integration division in June 2006. Using the Board’s knowledge of the IT services market place the company will continue with this ‘buy and build’ model.

A chronology of the company’s acquisitions and disposals is detailed below:

April 2003, acquisition of Matrix Network Solutions Limited, a supplier of networking solutions and services.
November 2003 a 50% interest was acquired in Norwood Adam Technical Services Limited.
December 2003, acquisition of Intrinsic Networks Limited, a supplier of IT security solutions and services.
May 2004, acquisition of Decorum Networks Limited, a supplier of converged communications solutions and services.
August 2004, acquisition of Bedrock Networks Limited, a supplier of networking solutions and services
August 2004, acquisition of Norwood Adam Systems Limited, a two tier distributor of voice, data and security solutions.
August 2004, the remaining 50% interest in Norwood Adam Technical Services Limited was acquired.
November 2004, acquisition of Network Partners Limited an Independent Provider of Value Added Telecommunications Services.
February 2005, acquisition of EquIP Technology Limited a specialist security distributor.
March 2005, the trading businesses HarrierZeuros Limited, HarrierZeuros Storage Solutions Limited and IKAN Limited were acquired from Harrier Group plc. These were suppliers of security and storage solutions and services.
February 2006, disposal of the Distribution division (Equip Technology) to Horizon Technology plc.
June 2006, disposal of the Integration division to Calyx Group plc and Matrix Communications Group was renamed to Fujin Technology plc.
February 2007, acquisition of Posetiv Limited, a supplier of enterprise storage solutions.
April 2007, acquisition of Anix Group Limited, a leading implementer of IT infrastructure and related solutions, hosted & managed services .
August 2007, merger of Posetiv into Anix Group Limited.
September 2007, disposal of Fujin Technology Ltd to Fujin's Management Team.
October 2007, acquisition of Itheon Ltd, a UK software vendor supplying high quality business service assurance and hardware solutions with significant Business in data storage, metering, billing and chargeback
October 2007, The offer for Red Squared plc, a managed services and hosting company, was declared unconditional.
February 2008, merger of Red Squared in Anix Group Limited.