Mission Posted March 29, 2005 Share Posted March 29, 2005 Did I read that right, £13.25 cash? Must be a typo surely. Link to comment Share on other sites More sharing options...
mannin Posted March 29, 2005 Author Share Posted March 29, 2005 Interesting indeed. Any idea on what effect this will have on the IOM operation? Good, bad, unknown? <{POST_SNAPBACK}> There have been some rumbles around for a while, from what I know it seems that either the 'hot potato' that is/was XKO offshore either needed to be off loaded or closed. 2e2 are known to be highly effective asset strippers. They have also been known to close the doors of the less profitable offices of many of their acquisitions, and from recent performance, this could well mean the IOM office. Link to comment Share on other sites More sharing options...
happy camper Posted March 29, 2005 Share Posted March 29, 2005 Did I read that right, £13.25 cash? Maybe they have a load of debts? Link to comment Share on other sites More sharing options...
mannin Posted March 29, 2005 Author Share Posted March 29, 2005 Did I read that right, £13.25 cash? Must be a typo surely. <{POST_SNAPBACK}> Who knows, I thought so at first, but there has been some talk recently of hugh debts in the IOM and the other offshore offices. This may be a true figure, but 2e2 would be also taking on the current debts. But I also assume a typo. Link to comment Share on other sites More sharing options...
joeyconcrete Posted March 29, 2005 Share Posted March 29, 2005 XKO Press release Link to comment Share on other sites More sharing options...
mannin Posted March 29, 2005 Author Share Posted March 29, 2005 XKO Press release <{POST_SNAPBACK}> I wonder how the staff feel now they have been 'disposed' off. If you fancy a chuckle have a look at XKO (IOM) statement Link to comment Share on other sites More sharing options...
dangerboy Posted March 29, 2005 Share Posted March 29, 2005 There have been some rumbles around for a while, from what I know it seems that either the 'hot potato' that is/was XKO offshore either needed to be off loaded or closed.2e2 are known to be highly effective asset strippers. They have also been known to close the doors of the less profitable offices of many of their acquisitions, and from recent performance, this could well mean the IOM office. <{POST_SNAPBACK}> Mannin you sound like a bitter former employee of XKO. I suppose you have evidence to back up your asset stripping claims? or do they just stem from your bitterness? Link to comment Share on other sites More sharing options...
mathias Posted March 29, 2005 Share Posted March 29, 2005 Did I read that right, £13.25 cash? Must be a typo surely. <{POST_SNAPBACK}> £13.25 million, or so I've heard. Link to comment Share on other sites More sharing options...
mannin Posted March 29, 2005 Author Share Posted March 29, 2005 Mannin you sound like a bitter former employee of XKO. I suppose you have evidence to back up your asset stripping claims? or do they just stem from your bitterness? <{POST_SNAPBACK}> I'm not a bitter former employee, I have had some dealings with them in the past, from when they were CSL, all of which were good. To be honest I did not really agree with the way the company has been going for the past few years hence took my business elsewhere........ If you require further info about 2e2, do a google on them and draw your own conclusions. Link to comment Share on other sites More sharing options...
Slim Posted March 29, 2005 Share Posted March 29, 2005 Just got this from them: Dear Speccy Fat IT Manager*, I am pleased to announce that 2e2 Group PLC has today acquired XKO Offshore Limited including XKO (IoM) from XKO Group plc for £13.25m. 2e2 recognised the strengths inherent in XKO Offshore and the excellent market position it has attained, presenting 2e2 with a unique opportunity to acquire the leading IT services providers in the Isle of Man and Channel Islands markets. XKO Offshore’s considerable experience in designing, deploying and maintaining IT solutions together with its disaster recovery capabilities will complement 2e2’s strategy and pave the way for future growth and stability. 2e2 is entirely focussed on IT services, which is perfectly aligned with XKO Offshore’s operations. The Group will provide access to an expanded range of services and solutions from the 2e2 stable enabling XKO to offer a broader range of high quality services to meet increasingly complex requirements. 2e2’s extensive skills base and resources are now available to support customers as required. Since 2e2 has a similarly strong service quality ethic to that of XKO, the key message I would like to convey is one of “business as usual”- you can expect only the highest standards of service to continue to be delivered. There will be no change to the organisational structure or staff; we will simply be in a position to progressively offer a broader capability. Clearly, as XKO (IoM) will no longer be part of XKO Group, we will need to change the name of the Company in the coming weeks to 2e2 IoM Ltd. I would encourage you to visit our Group website at www.2e2group.com, if you have any questions please speak to your account manager or email me at response@xko.co.im Thank you for your continued support, xxx* Managing Director XKO (IOM) Limited *Names have been changed to protect the innocent Link to comment Share on other sites More sharing options...
Silentbob Posted March 30, 2005 Share Posted March 30, 2005 There are no innocents in the manx IT industry Link to comment Share on other sites More sharing options...
commbdown Posted March 30, 2005 Share Posted March 30, 2005 [deleted] Link to comment Share on other sites More sharing options...
mannin Posted March 30, 2005 Author Share Posted March 30, 2005 I have, on occasions been accused of being a cynic; I have never denied such claims…. I wonder if the soon to be introduced ‘Zero Corporate Tax’ initiative has got anything to do with this acquisition. I guess that question will only be answered if time shows that 2e2 move their HQ to the Island. Link to comment Share on other sites More sharing options...
Slim Posted March 30, 2005 Share Posted March 30, 2005 Surely there's no shortage of good techie staff around is there? If zero tax is encouraging big players over, woot. Big up the IOM! Link to comment Share on other sites More sharing options...
commbdown Posted March 30, 2005 Share Posted March 30, 2005 [deleted] Link to comment Share on other sites More sharing options...
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