Logical pulls plug on IPO
And other channel flannel
Logical, the networking reseller bit of South African IT group Datatec, has pulled its IPO just weeks before it was due to float on the London Stock Exchange.The company with sales of £364 million in 1999 was expected to carry a market cap of £1.5 billion, according to the Sunday Times. Market conditions are blamed.
Merisel has bought the assets and "certain liabilities" of bust e-tailer Value America. The US distie said it had no intention of selling direct, but would use the e-tailer's technology to spruce up its ecommerce logistics capability. Merisel was, at one time, the world's third biggest IT distributor, but financial problems led it to withdraw from Europe (through the sale of its subsidiary to the now bust CHS inc.)
Basilica founder and chairman Steve Vassiliades is returning to day-to-day management as managing director of the HP corporate reseller, according to CRN (UK). The position of current MD Andrew Douglas, following the move is unknown. But it looks as if the sales director is due for the chop, judging from CRN's interview with John Young, Basilica's account manager at HP - a man who looks like he has been stitched up like a kipper. Looks like you need to go back on the press training again, John.
CRN story here
Dimension Data Holdings has bought a Swiss networking reseller, Netpartner, of Zurich. It already has a subsidiary in the country and the acquisition is intended to help it achieve critical mass there. ®