Logcom Group is blazing an acquisition trail across the channel and is already in negotiations for its third take-over in as many months.
The Group acquired Logcom Solutions first, followed by Autodata earlier this month. The firm has now confirmed that it has almost completed negotiations to buy reseller Status Group for an undisclosed sum.
Simon Hollway, head of investor relations at Logcom, said the firm hopes to make five acquisitions in total by Christmas. "A surprising number of companies have approached us for us to buy them," he said.
Hollway added that the acquired firms would keep trading under their own names but that Logcom would be rebranded by next summer, depending on what happens at its initial public offering in April.
Clive Longbottom, services director at analyst Quocirca, said multiple acquisition schemes can be "daring to the point of stupidity". Logcom must buy firms with similar cultures to make its strategy work, he added.
Logcom's Matrix software eases integration by helping to evaluate which company is worth buying, Hollway added.
Longbottom said: "The channel needs a clear-out. This is a brave move and should push Logcom up the reseller ladder."
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