Zoom snaps up Hayes Europe

The European branch of struggling modem manufacturer Hayes has finally been bought by competitor Zoom Telephonics.

Despite continuing to trade profitably, Hayes Europe had been looking for a potential buyer since the US parent, Hayes Corporation, was put up for sale in January after filing for a Chapter 11 bankruptcy protection from creditors.

Zoom's bid for the European branch was successful despite stiff competition from about 10 other companies, both based in Europe and the US.

The deal will help Zoom expand into the UK channel, something that has been lacking in its portfolio to date.

Nigel Croisdale, vice president of international operations at Hayes, said: 'Although Zoom was a direct competitor, there was virtually no overlap in the UK channel.'

Zoom intends to build on Hayes brand name in the UK market and will not, initially, be asking Hayes to push its owner's products as well as its own.

Croisdale confirmed that it was 'business as usual', with the Hayes brand name being retained, along with its product range and all employees.

'We expect to see improvements in products, product availability and an accelerated product release schedule in the very near future,' he added.

Although no financial details of the purchase were released, Croisdale stated that it was 'a good deal for both sides' and that Zoom was still looking around for other possible purchases.

Croisdale added he expected the situation with its former US counterpart to be resolved by the end of the month.