South African distributor Datatec will pay as much as #41 million for networking reseller Satelcom, continuing its UK shopping spree.
Datatec will make an initial payment of #14 million, with the balance depending on Satelcom?s pre-tax profit performance for 1998-2000.
Satelcom founders Brian Jacobs and Ian George each stand to pocket up to #16 million from their 40 per cent stakes. Around two-thirds of the 115 staff at the firm - based in Ascot, Berkshire - own shares worth around #8 million.
The acquisition will provide big customers through Satelcom?s managed network services offering. Its clients currently include Marks & Spencer and Bank of Scotland.
It also adds to Datatec?s existing cache of UK companies, including Logical, Blueprint and Network SI. Satelcom specialises in high end network management which keeps tabs on networks from Satelcom?s head office. It will be renamed Logical Network Services.
Jon Davies, Datatec corporate marketing director, said: "The four businesses in the UK will together complete the end-to-end support programme. We can install, manage and now run networks for corporate customers."
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