Amstrad has sold Dancall, its cellular mobile telephone arm, to Germany?s Bosch Telecom for #92 million, four years after it rescued the business from receivership for #6.3 million.
Bosch dismissed claims that it had paid over the odds for the division saying Amstrad had ?invested a huge amount of money in R&D. It had an impressive line-up of products at Cebit last month. We do not have that level of expertise,? said a Bosch spokesperson. Since the acquisition, Amstrad had pumped #10 million in Dancall and the sale price shows nearly six times return on investment.
Amstrad chairman Alan Sugar said Dancall is an example of Amstrad?s knack of ?spotting profitable sectors, product innovation and directing good management to develop and market those innovations.? However Sugar said shareholders had not appreciated Dancall?s potential, ?principally due to the lack of profits since we acquired the company?. In the year to June Dancall lost #6.8 million on sales of #100 million.
Bosch Telecom is Germany?s third largest telecomm products company and is owned by Robert Bosch, the power tools to automotive components company. The Bosch spokesperson said the deal will give Bosch access to GSM technology and provides Dancall with the distribution channel and brand awareness it has been lacking. Bosch will retain Dancall?s 600-strong employees, the majority of whom are based in Denmark.
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