InterX confirms Ideal Hardware sale
Bell Microproducts is buyer
California IT distributor Bell Microproducts has confirmed it is to buy InterX subsidiary Ideal Hardware. Bell Microproducts has signed a letter of intent to acquire the Surrey-based distributor, it said today. No price tag was put on the deal, which will mark Bell Micro's first step into the European storage market and give Ideal a listing on NASDAQ. Ideal recorded sales up 39 per cent at around $500 million for the year ending July 1999. InterX, which in November announced plans to spin off Ideal to develop its Internet business, has been rumoured to be in talks with the US giant for several weeks. "Ideal and Bell Micro are closely aligned in strategies and operating style," said Don Bell, Bell Micro president and CEO. "Bell Micro's own value-add initiatives are in perfect harmony with Ideal's strategy. Together, we will bring to the European market a unique and comprehensive offering in the fast growing storage industry," said Henri Richard, freshly appointed president of Bell Micro Computer Products group. Bell Micro recorded sales of $366.3 million and pre-tax profit of $3.2 million for its first quarter ended March 31 2000. This compared to $219.6 million and $1.9 million for the same period the previous year. ® Related stories InterX inches closes to Ideal Hardware sale InterX distie arm still up for sale Channel Flannel extra Ideal to split from parent group
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