Datatec UK has splashed out and acquired venerable networking equipment reseller, Network SI.
The South African owned conglomerate is paying #8.5 million for the reseller. No earn out is attached to the deal.
Network SI becomes the third UK reseller bought by Datatec in a year and will be merge into the group's Logical Networks business.
The networking reseller turned over #16.5 million during fiscal 1998. The company was carved out of ACT, long since dissolved into Misys, and Mitsubishi Electric PC Company. Pro forma Logical Networks UK revenues are #85 million per year, following the takeover.
Datatec has strengthened its mergers and acquisitions team, with the appointments of Bob "Sonix" Jones and John "USR" McCartney as deputy chairman. They join executive chairman Jens Montanana.
Jones and McCartney joined the Datatec board as non executive directors in June.
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