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Clash over future strategy leads to boardroom exits at Avisen

Microscope contributor

There have been a number of board room changes at Avisen with executive chairman Ian Smith and chief operating officer Anthony Waver standing down due to disagreement over future direction.

In a statement to the City, the software reseller which acquired investment vehicle Xploite for £11.4m earlier this year confirmed the two departures were "with immediate" stating that they were intending to "pursue other business interests".

Talking to MicroScope, Smith said: "We had a difference of opinion over corporate strategy, our track record is around mergers and acquisitions, we wanted to buy businesses and they [Avisen's board] did not."

Smith remains an executive director at Accumuli, formerly NetServices, following his £2.1m investment in the business late last year.

In May, management completed the disposal of WAN Services and the trade and assets of NetServices to GCI Telecom for £3.2m, and this cash will be used to fund a roll up in the security channel with Accumuli used as an investing company.

"We are embarking on a buy and build strategy in the managed security services market, it is still fragmented with lots of little players," said Smith. 

Avisen was not available to comment.


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