After months of intense talks the management team at Elcom Information Technology has finally succeeded in its management buy out bid for an undisclosed sum.
The reseller will make the final split from its US parent, Elcom International, on 21 December.
"We started talks in July. Although other firms expressed interest, we won the bid," said Tony Davis, Elcom IT managing director designate.
Davis explained that the parent company was looking at maximising its ecommerce strategy by becoming a "virtual reseller" in the US. "The UK reseller arm, Elcom IT, would not fit in with that strategy," he said.
Michael Templeman, UK managing director at Elcom International, claimed that the move was positive for both firms.
Davis said the reseller intends to keep its name, and continue with its current strategy. "It was just nice not to have to come back to people and announce redundancies. It is business as usual," he maintained.
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