Ailing US distributor Ameriquest Technologies has sold off its CMS Enhancements storage subsidiary in a management buyout.
The US arm of Computer 2000 sold off the unit?s assets for an undisclosed figure last week. As part of the deal, the buying group, led by CMS general manager Ken Burke, has entered into a non-competitive agreement with Ameriquest.
CMS was part of Ameriquest until 1993, when it split into distribution and storage arms. C2000 later bought Ameriquest and its subsidiaries in 1995.
Michael Dresser, Ameriquest president, would only reveal that CMS had come to an agreement to sell but refused to comment on the reasons .
CMS marketing director Nandy Villongco said financial backers had helped Burke?s team to buy CMS. ?We will continue with our channel partners but we have no business outside North America,? he said.
CMS also sells its hard disk and CD-Rom storage products through US indirect channel companies including Ameridata, Ameriquest, Computerland, Intelligent Electronics, Tech Data and Vanstar. The sale comes two months after C2000 said it was considering selling off loss-making US subsidiary Ameriquest after it admitted that it could not compete in the competitive US market.
It stated: ?Management also continues the investigation of the possible disposition of business segments and other assets.?(PC Dealer, 16 April).
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