After months of intense talks the management team at reseller Elcom Information Technology has finally succeeded in its management buy-out bid. The sum was not disclosed.
The reseller will make the final split from US parent Elcom International on 21 December.
"We started talks in July. Although other firms expressed interest we won the bid," said managing director designate Tony Davis.
He explained that the parent company was looking at maximising its ecommerce strategy by becoming a "virtual reseller" in the US. "The UK reseller arm, Elcom IT, would not fit in with that strategy," he said.
Michael Templeman, UK managing director of Elcom International, maintained that the move was positive for both firms.
Davis said the reseller intends to keep its name, and continue with its current strategy. "It was just nice not to have to come back to people and announce redundancies. It is business as usual," he said.
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