UK-based software and systems group Radius has bought the assets, rights and contracts from Microvitec?s system integration arm for #650,000.
Radius will merge the Manchester-based systems integration business into its computer maintenance arm ? the only non-software-focused arm of the Radius group. The purchase gives Radius access to a north of England customer base.
Radius group CEO Phil Kelly said: ?This acquisition will considerably strengthen our hardware maintenance business. It will give us improved geographic coverage of the UK. It will enable us to enhance the level of range of services provided to our customers and reinforce our competitive position. We will now be servicing a total of 3,700 maintenance contracts.?
Lawrence Bland, Radius group finance director, added: ?The customer base we?ve inherited with this acquisition is worth about #2.2 million, and we are expecting this to add 60 per cent to the cur- rent Radius computer maintenance business.?
Projections for the financial year ended 31 December estimated that the Microvitec acquisition will increase turnover from #26 million to #30 million. Radius computer maintenance after the acquisition is expected to account for about 20 per cent of this years? forecast revenue, Bland said.
Radius said it would retain all of Microvitec?s technical staff, but would replace the management. The management are to be found jobs within Microvitec. Microvotec was not available for comment.
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