US company GE Capital IT Solutions bought UK distributor P&P this morning, although both companies declined to say how much money was exchanged.
The deal further extends GE Capital?s grip on the UK channel, said Jeremy Goldings, president and CEO of the company here in the UK.
He said: ?P&P brings substantial complementary skills and with its strong northern process we are now able to provide complete national coverage.?
David Southworth, group managing director of Skillsworth - which owned P&P UK until today - said in a prepared statement: ?We are delighted to have reached agreement with such a high quality global organisation and believe it to be in the best wishes of P&P?s employees, customers and partners.?
The move is likely to spell the end of P&P as a separate name, after a long and honourable history. Originally set up by Peter and Pam, two social workers based close to Rossendale in Lancashire, it distributed PC kit not long after the PC phenomenon happened in the mid-1980s. Both Pete and Pam were famous for counselling staff with problems, but more ambitious employees objected to their their laid back approach. But they made their money when P&P was floated.
Now GE Capital - which has assets of $227 million - has acquired a brand name it is likely to push against other UK distributors.
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