Maytech Communications announced on Tuesday that the company will be backed by MXC Capital, a specialist investment and advisory company based in the United Kingdom. The investment deal includes a provision saying that MCX Capital should provide an equity investment equal to 25% of Maytech Communications. The deal also called for MCX Capital to provide a working capital facility from its debt fund.
Maytech Communications is an FTP hosting and FTP services business provider.
John Lynch, the chief executive officer of Maytech, commented on the investment, "We are delighted with this investment and particularly relish the prospect of having MXC as a partner who can help us take the business forward."
He continued to explain that the company has grown 30% each year over the past years, ramping up investments for their portfolio of products.
"This investment will enable it to take advantage of its huge market opportunity whilst our combined experience will help the management team through the challenges which come with such a period of transition," he said.
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