UK electronics and PC components distributor Acal expanded both sides of its business with two acquisitions last week.
The distributor bought the remaining 30 per cent stake in EAF, the Netherlands PC components business from founder Stephen Carr for a cash payment of pounds 2.6 million and 500,000 Acal shares. Acal acquired the 70 per cent stake from Carr in 1994 for pounds 9.9 million.
The move improves Acal's PC components operation, which represents about 16 per cent of the Acal's business. The distributor also has networking and software distribution operations.
It also purchased UK rival Sedgemoore in a cash and share deal valued at pounds 77.9 million, having held a one per cent stake in the company previously.
Jim Virdee, finance director at Acal, said the PC operations would continue to expand. 'There are a lot of opportunities in the market which we will take advantage of.'
Services group Diagonal has purchased Leeds consultancy MFT Computer Holdings for pounds 4.85 million, of which pounds 3.87 million will be paid in cash and the remainder in Diagonal shares. The acquisition will give Diagonal access to public sector business.
David Filler, managing director of MFT, will continue to run the unit within the group. For the year ended 31 March, pre-tax profit is expected to be pounds 420,000.
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