Services provider MDIS is embarking on an acquisition strategy to bolster its services portfolio, after netting #3.9 million in cash from the sale of its electronic point-of-sale (EPOS) maintenance business to Anker Data Systems (ADS).
Vince Haffenden, director of service at MDIS, told PC Dealer that the company was looking at acquisition targets in the management services and network management sectors. He declined to specify how much MDIS is prepared to spend, but said organisations with a technical competency would be favoured.
Haffenden said MDIS was negotiating with several possible targets and the systems integrator expected the discussions to result in at least one acquisition this year. He hinted that MDIS was also looking to regain a presence in Europe, after it closed several international divisions during 1996 as part of a corporate restructure designed to stem large operating losses.
MDIS finally returned to profitability last year, showing a #4.7 million improvement year-on-year to record profit of #3.1 million for the year ended 31 December 1998. Revenue increased 13.8 per cent to #133 million during the same period.
As part of MDIS' arrangement with ADS, the two companies will partner in the delivery of retail systems to European customers.
The strategic alliance will see ADS focus on the provision of point-of-sale systems and support, while MDIS will handle the network and systems integration component.
According to MDIS' filing with the UK Stock Exchange, its EPOS maintenance business had assets of #2.6 million. It recorded an operating profit of #300,000 last year.
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