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Sale of X-on

PEM Corporate Finance advised the existing shareholders on the sale of X-on to Southern Communications Group.

Company background

X-on was founded more than 20 years ago by directors Paul Bensley and Paul Heeren. Initially it focused on selling IT support services and ringtones but then diversified into phone systems for the healthcare market. The company is headquartered in Woodbridge, Suffolk, and is a £10 million turnover business, employing more than 70 staff. An estimated 11 million patients are now served by 1400 practices in England and Wales using X-on’s Surgery Connect, representing around 17.5 per cent of the GP practice telephony market.

What was special?

The transaction will enable X-on to enter a significant new phase in the company’s ambitious growth plans within the digital healthcare sector

Deal structure

100% of the share capital of the company was sold to Southern Communications Group.

Mark Whittaker from Greene & Greene solicitors were appointed to provide legal advice to the vendors. Moore Barlow represented SCG.

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