Feeds

C2000 brings components distributor Onboard

Lay-offs to follow as broadliner targets Datrontech and others

  • alert
  • submit to reddit

Security for virtualized datacentres

Computer 2000 today acquired the trade and business of PC components distributor Eurodis Onboard, causing around half of Onboard’s staff to face redundancy. The broadliner is paying £1.1 million for the assets of Onboard and has agreed to shell out an additional £300,000 for intellectual property rights, goodwill and contracts. Today’s announcement puts Computer 2000 in a stronger position when competing with other components distributors such as Datrontech, Microtronica and CHS subsidiary Karma. Onboard was a subsidiary of Eurodis Electron, but did not fit in with the company’s agenda for the future. Barry Davis, Eurodis group company secretary, confirmed around nine out of the 21 Onboard employees would be made redundant. The remainder would be found jobs within Eurodis Electron or Computer 2000. Davis said the job losses would be throughout all areas of the company. Graeme Watt, Computer 2000 MD, said: "We are not number one in this market, but we will work at gaining this position through organic growth and acquisition." He admitted that current market conditions were tough, but said Online’s business was primarily Intel-based – over 85 per cent – and that Computer 2000 had faith in this area. As part of the deal, Eurodis agreed not to compete for three years with the Onboard businesses that were being sold. It will continue in its core business of electronic component distribution, such as Intel CEG (Computer Enhancement Group) products in the UK through its Eurodis Bytech subsidiary, based in Basingstoke. Onboard’s pre-tax profit for the year ended 31 May 1998 was around £1 million. According to a statement issued by Eurodis, worsening trading conditions meant the company was only expected to break even this year. The cash from the deal will be used to reduce bank borrowings. ®

Security and trust: The backbone of doing business over the internet

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.