Liverpool-based software firm Q4Ex, provider of cloud-based software services to builders merchants and distribution businesses, has been bought by web hosting company Daily Internet.
It has acquired the company in an all-share deal initially worth £520,000, but further deferred payments could take the total value to £2m.
Founded in March 2014, Q4Ex services include infrastructure as a service (IaaS), platform as a service (PaaS) and SaaS along with associated advisory and support.
Daily Internet plans to merge it with Netplan, the internet infrastructure firm it bought last year. Arthur Duffy, managing director of Q4Ex, and Paul Jones, services and support director, will join the Netplan board in the same roles.
An announcement on the London Stock Exchange said: “Q4Ex is seeing increasing interest from larger potential clients and whilst in the past it has undertaken joint pitches with Netplan, it has now been agreed that the relationship with Netplan should be cemented through an amalgamation of the two businesses.”