Feeds

Dual float on Horizon for Irish channel player

Cash will fund future acquisitions

  • alert
  • submit to reddit

Security for virtualized datacentres

Horizon Technology Group is seeking a dual listing on the Irish and London Stock Exchanges for December. The Cork-based distributor's flotation is being sponsored by NCB Corporate Finance. The company's principal shareholders, Samir Naji and Charles Garvey, will see their holdings diluted after the float, with NCB set to place more than five per cent of the company, or 2.9 million shares, with institutional and private investors, it said. Staff will also get the chance to buy shares. In total, these three groups of investors will hold 25 to 30 per cent of shares in the company. Two months ago the company - which is the parent of Sun reseller Horizon Open Systems and Clarity distribution in the UK - was valued at around £70 million. Horizon will embark on an investor roadshow over the next few weeks to drum up investor support. "Admission to the Official Lists will raise the profile of the Group, enhance its reputation with clients and suppliers and provide it with greater financial flexibility for future organic and acquisition led growth," said Kevin Melia, Horizon Technology Group chairman. "In addition, the company will be able to offer attractive incentives to its employees." Samir Naji, founder and MD of the group, said: "Future growth will come from a focus on niche markets particularly with Internet-related projects and Internet infrastructure." Horizon Technology Group has 260 staff with offices in Ireland, the UK and Continental Europe. ®

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
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
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.