Datrontech goes Dutch for bargain basement purchase

Datrontech is beefing up its PC assembly through a 45 per cent stake in Laser Computer Holdings. DTG is paying just NLG90,000 (£29,000) for its 45 per cent stake in Laser, a £32 million t/o Dutch computer assembler. The deal will look even sweeter, if Laser switches component sourcing to Datrontech. Datrontech is funnelling the acquisition through its wholly owned Dutch subsidiary International Computer Products (ICP). The remaining 55 per cent will be owned by a group of investors and will include the management of ICP. Laser has a PC build capacity of 40,000 units per year and apparently has strong brand recognition in the Netherlands. On its own, ICP can churn out up to 20,000 units per year. Datrontech says it may extend the Laser brand name to other Datrontech products Unusually, the pricing of the deal is constructed on a net asset basis -- seen usually in underperforming investment trusts and property companies. The price suggests that Laser’s previous owner MicroMundo was very keen to get shot of the company. Laser Computer Holdings is a new holding company with net assets of NLG 0.3 million (100k) and a credit facility courtesy of NLG Bank. This vehicle replaces Laser Computer Europe, which had net assets of NLG 6.6million (£2.1 million) at the end of its last financial year, on 31 March 1998. Sales for the year were NLG 99.5 million (£32 million) and pre-tax losses were £0.7 million. ®