Allasso sale gathers speed
Distributor InTechnology close to selling off security arm in Europe
The sale of InTechnology’s European Allasso arm is imminent, and CRN understands the firm is to enter due diligence with one of its two suitors.
According to CRN’s sources, Magirus and Italian-based company ITWay are both interested in Allasso in Europe.
Steve Pearce, chief operating officer at InTechnology, said: “Two parties have shown a definite interest. It is very likely to go ahead because they are both attractive offers.”
CRN revealed that InTechnology planned to sell off its Allasso arm last month (CRN, 20 February). InTechnology acquired Allasso in June 2003 and integrated the UK arm of the security distributor into its own storage business. But Allasso remains a separate brand across Europe.
Both Magirus and ITWay were unavailable for comment. C
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