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10/09/98 Daily Digest

CRN tips up in UK

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Computer Reseller News comes to UK Computer Reseller News is launching a UK edition on 18 November, pitching into battle in the weekly market with PC Dealer and Microscope. CRN UK recruits include editor Ambrose McNevin, managing editor James Harding and consultant editor Eira Hayward, all of whom have served time one time or another at PC Dealer. For more information contact either Ambrose McNevin on 0171 864 1438(email amcnevin@cmp.com) or Eira Hayward on 0171 864 1377 (email ehayward@cmp.com) Systems Union promotes lease options Systems Union has come up with a neat way of enabling customers to sidestep capital purchase restrictions – by offering leasing options for its SunSystems accountnacy software. The company has teamed up with Dana Commercial Credit Ltd (DCC) to deliver a range of agreements under the Advantage Programme. ICL buys Czech SAP dealer ICL has strengthened its SAP implementation skills with the acquisition of a 51 per cent stake in Czech software house PC-DIR. Described as one of the “top two SAP partners in the Czech Republic”, PC-DIR turned over £5 million in 1997 Granada Computer Service changes name Granada Computer Services, the UK’s biggest computer maintenance company, has changed its name to Synstar Computer Services International. Buy! Buy! Buy! Sell! Sell! Sell! A “highly successful” supplier of new and used computer hardware, based in the Midlands, is up for sale. The company is “very cash generative”, with pre-tax profits of £0.9 million, on turnover of £2.8 million, according to an advert placed in the Financial Times by Grant Thornton. For more details, call Graeme Forbes or Elizabeth Harrison at Grant Thornton’s Nottingham office. Tel: 0115 948 3483 Fax: 0115 948 4504 Sherwood swaps shares with US competitor Sherwood International PL is to take a 12.65 per cent stake in Allenbrook, a subsidiary of US insurance software developer AMS, for up to £7.1 million in shares. The company is funding the deal through a new issue which will enlarge share capital by 7.5 per cent. This will pay for the initial consideration of £5.4 million. The balance dependent on performance, will also be funded out of new shares. At the same time , Sherwood is forming an joint venture company with Allenbrook to promote its SENATOR reinsurance software program globally. Sherwood is injecting its reinsurance subsidiary Sherwood ISS into the new venture, and is pumping in $490,000 worth of fresh working capital, in return for a 49 per cent stake. It will retain exclusive European sales rights, while Allenbrook get sole distribution rights in North America, and non-exclusive rights for the rest of the world outside Europe. Sherwood has also won a licensing deal worth $5 million to supply CNA, a top ten insurance company and major shareholder in AMS, with AMARTA. The company said that it has agreed with AMS that cross shareholdings should remain in place for a minimum of two years. AMS is owned by a group of US insurance companies. ®

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