South African distributor Datatec has revealed that it is buying twor foothold in managed networks services. more companies as part of its continuing international expansion.
Datatec will purchase UK-based Satelcom's entire share capital for #41 million, with #27 million of this dependent on profit targets being met.
The second purchase, US network integrator Bloomfield Computer Network Solutions, based in Michigan, will be paid an initial $15 million with another $87 million to follow if the company reaches the agreed profit level.
Satelcom, founded in 1988 as a network integrator, aims mainly at large corporate customers, specialising in communications systems and Lan/Wan connectivity.
Its two founders, Brian Jacobs and Ian George, both owned 40 per cent each of the firm - the rest being shared between its staff - and stand to make up to #16 million apiece from the acquisition.
Jacobs, managing director of Satelcom, said the Datatec purchase would enhance the profile of the company and enable it to 'compete even more effectively for the largest and most complex of networking projects'.
Satelcom will become part of Datatec's computer integration and services section, Logical Networks. According to Datatec, the buy will give it a 'foothold in the UK market for managed network services'.
Jens Montanana, chairman of Datatec, added: 'Satelcom complements our own systems integration businesses as well as our global presence, especially in Europe, Australia and South Africa.'
Bloomfield - also known as BCS - will also be folded into the Logical division and will be known as Logical Solutions.
Paul Hodges, president of BCS, said: 'The acquisition by Datatec will allow us to respond on a global basis to customers' needs.'
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