For almost 20 years redIT has been chipping away at the Slim Inc. Telco monopoly. First as a Carrier of Carrier building out Metro Fiber Rings and then as Managed Services and Cloud provider. I was lucky enough to have helped them in three different occasions since 2000. Most recently focusing their strategy during their 2010 US Acquisition.
Founded in 1995, they have been through every stage of the funding cycle and were finally acquired by Kio Networks (Oct. 2014). While no figures have been disclosed for the deal. Ballpark revenues are around US 80 million, with EBITDA of 30%. Using BIQ’s sector profit pool model gives us a sector EV /EBITDA of x 5.26 and an estimated EV of US 126 million. So congrats to founders Murray and Joao (rip) and the rest of the team.
Local boys done very good indeed.