X-Direct's cash injection creates eServe

X-Direct's cash injection creates eServe

Dominant Sun reseller X-Direct yesterday announced its rebirth as the service provider eServe, following a $3 million investment by Allen & Buckeridge.

The new company is aiming to capture a significant slice of the converging Internet, enterprise computing and network integration markets it has labeled the "NetInfrastructure" business.eServe's managing director, Ian Buddery, said the company is already looking to garner revenues of $18 million for the 1999 financial year with an "emotional target" of $30 million next year.

The company is building on its strength as Sun Microsystem's largest reseller and its experience as a Cisco reseller to provide integrated e-business and server-based solutions.

In addition to Allen & Buckeridge's support, the company has captured the attention of Cisco's Asia Pacific vice president, Richard Freemantle, who agreed to become Chairman.

Freemantle is expected to bring wide-ranging experience in the networking and IT industry to the table.

"My experience is in acquisitions," he said.

However, Freemantle said the post is "not an endorsement of Cisco's position" on the company.eServe is expecting to take its business to the international markets within 12 to 18 months and is heading for an initial public offering or trade sale in around two years.

Buddery said eServe is also expecting to buy additional expertise in the form of two Internet or networking-based companies by the end of this year. He said an announcement on the first acquisition will be made within 90 days.

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